🥰Welcome
Last updated
Last updated
Here you can find all the useful resources about Crafting Finance. Learn more: To learn about how Crafting Finance works, read the whitepaper. Github: To view the codebase, visit the Github page.
The synthetic assets issued by the entire system are produced by users staking certain collateral. The initial collateral includes CRF,DAI， USDT， NEAR, AURORA, BTC, and ETH, and the collateral rate depends on the variation of the collateral itself. We plan to refer to the collateral rate of other projects at the early stage of the project and set the rate between 150% and 800%. For example, if a user wants to mint synthetic assets worth $100, they need to put $150 to $800 collaterals, depending on which collateral he/she uses. The user’s collateralization ratio should be as high as possible than this prescribed ratio, that is, when the price of the collateral drops, the collateralization ratio may be insufficient. At this time, the user should replenish the collateral or return (destroy) a part of synthetic assets. The system stipulates that only users who are greater than or equal to the specified collateralization ratio will receive system rewards as an incentive. In the future, the collateral and collateral rate can be adjusted through community governance. When users stake collaterals and forge synthetic assets, corresponding debts are generated. When the user wants to unlock the collateral, he must repay the debt, that is, destroy the previously generated synthetic assets.
The main functional modules of the entire system are Forge and Kingsman. Forge are where all synthetic assets are minted. Kingsman is the decentralized contract exchange using sharing debt pool trading mode. Other important modules of the system include collateral pools, fee pool, interest pool, and oracles.
