By minting NORO you're trading your crypto assets for discounted NORO.The Mint page allows users to mint $NORO from the protocol at a discount by trading it with i) liquidity (LP tokens) or ii) other assets. The former is called liquidity minting and the latter is reserve minting. The minting action creates bonds that take 5 days (15 epoch) to vest, and $NORO tokens are vested linearly to the user over that period. Liquidity minting helps the protocol to accumulate and lock liquidity, while reserve minting allows the protocol to grow its treasury, and thus the backing per $NORO faster. The Cunoro Treasury currently offers minting via $BEND and $AVAX only, but we expect to add UST and other assets soon. Minting $NORO:
- Go to the Mint page and select the assets you wish to use to mint $NORO
- Enter the amount of the asset you'd like to use for minting.
- Approve the website using your asset to mint. You'll need to do so in your wallet when prompted.
- 1.After the "Approve" transaction has been processed successfully, click "Mint" and sign the transaction. Voila, you have minted your first $NORO tokens.
Note: The "Approve" transaction is only needed when minting for the first time; subsequent minting only requires you to perform the "mint" transaction. How to Redeem: Once you've minted $NORO you'll need to redeem it to stake it or sell it on a DEX.
- Go to the Mint page and select the mint type you have purchased.
- Select the "Redeem" tab.
- 1.Use the Claim to claim all of your available rewards, and have the pending $NORO sent to your wallet, or use the Claim and Autostake button to have all the available $NORO sent automatically to the staking contract.
Reading the InfoMint Page:
- MINT Price is the price of $NORO you get from minting. You can calculate the mint price using the following formulae: - LP Mint: (Value of your LP token / $NORO you'll get from minting) - BEND Mint: (Value of your BEND token / NORO you'll get from minting)
- $NORO Price is the market price of $NORO.
- Your Balance is your balance of LP tokens or assets used to mint.
- You Will Get tells you how many $NORO tokens you will get from minting.
- Max, You can Buy the maximum amount of $NORO available to be bought.
- The Debt Ratio measures the total amount of $NORO created from mints that have yet to be paid out by the protocol. The debt ratio is calculated differently for LP mints and BEND mints: - LP Mint: ($NORO created from unredeemed mints / $MAG total supply) - MIM Mint: ($NORO created from unredeemed mints / $NORO circulating supply)
- Vesting Term measures the period a minting action takes to fully redeem. This number is expressed in days.
- Minimum Purchase: Minimum amount of $NORO that can be minted
- Time Until fully vested time until the $NORO minted will be fully redeemable
- Pending Rewards is the amount of $NORO you are entitled to receive from minting.
- Claimable Rewards is the amount of $MAG that you can claim now. This amount keeps increasing as $NORO is vested to you over the vesting period.
- ROI is the Return On Investment
Vesting Term measures the period a Minting action takes to fully redeem. This number is expressed in days.