The Mint Contract implements the logic for Collateralized Debt Positions (CDPs), through which users can mint or short new mAsset tokens against their deposited collateral (UST or mAssets).
Current prices of collateral and minted mAssets are read from the Collateral Oracle and Oracle Contract to determine the C-ratio of each CDP. Depending on which the type of asset used as the collateral, the minimum collateral ratio of each CDP may change. Collateral Oracle is responsible for feeding prices and collateral ratio multiplier
of each collateral asset type.
The Mint Contract also contains the logic for liquidating CDPs with C-ratios below the minimum for their minted mAsset through auction.
InitMsg
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
pub struct InitMsg {
pub owner : HumanAddr ,
pub oracle : HumanAddr ,
pub collector : HumanAddr ,
pub collateral_oracle : HumanAddr ,
pub staking : HumanAddr ,
pub terraswap_factory : HumanAddr ,
pub lock : HumanAddr ,
pub base_denom : String ,
pub token_code_id : u64 ,
pub protocol_fee_rate : Decimal ,
}
Copy {
"owner" : "terra1..." ,
"oracle" : "terra1..." ,
"collector" : "terra1..." ,
"collateral_oracle" : "terra1..." ,
"staking" : "terra1..." ,
"terraswap_factory" : "terra1..." ,
"lock" : "terra1..." ,
"base_denom" : "uusd" ,
"token_code_id" : 8 ,
"protocol_fee_rate" : "0.123
}
Key Type Description Contract address of Terraswap Factory
Native token denomination for stablecoin (TerraUSD)
Code ID for Terraswap CW20 Token
HandleMsg
Receive
Can be called during a CW20 token transfer when the Mint contract is the recipient. Allows the token transfer to execute a Receive Hook as a subsequent action within the same transaction.
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum HandleMsg {
Receive {
amount : Uint128 ,
sender : HumanAddr ,
msg : Option < Binary >,
}
}
Copy {
"receive" : {
"amount" : "10000000" ,
"sender" : "terra1..." ,
"msg" : "eyAiZXhlY3V0ZV9tc2ciOiAiYmxhaCBibGFoIiB9"
}
}
Key Type Description Amount of tokens received
Sender of the token transfer
* = optional
UpdateConfig
Updates the configuration of the Mint contract. Can only be issued by the owner of the Mint contract.
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum HandleMsg {
UpdateConfig {
owner : Option < HumanAddr >,
oracle : Option < HumanAddr >,
collector : Option < HumanAddr >,
collateral_oracle : Option < HumanAddr >,
terraswap_factory : Option < HumanAddr >,
lock : Option < HumanAddr >,
token_code_id : Option < u64 >,
protocol_fee_rate : Option < Decimal >,
}
}
Copy {
"update_config" : {
"owner" : "terra1..." ,
"oracle" : "terra1..." ,
"collector" : "terra1..." ,
"collateral_oracle" : "terra1..." ,
"staking" : "terra1..." ,
"terraswap_factory" : "terra1..." ,
"lock" : "terra1..." ,
"token_code_id" : 8 ,
"protocol_fee_rate" : "0.123" ,
}
}
Key Type Description New oracle contract address
New collector contract address
Contract address of Terraswap Factory
Contract address of Mirror Lock
* = optional
UpdateAsset
Updates mAsset's minting and liquidation parameters. Can only be issued by the owner of the Mint contract.
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum HandleMsg {
UpdateAsset {
asset_info : AssetInfo ,
auction_discount : Option < Decimal >,
min_collateral_ratio : Option < Decimal >,
ipo_params : Option < IPOParams >
}
}
#[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
pub struct IPOParams {
pub mint_end : u64 ,
pub pre_ipo_price : Decimal ,
pub min_collateral_ratio_after_ipo : Decimal ,
}
Copy {
"update_asset" : {
"asset_info" : {
"token" : {
"contract_addr" : "terra1..."
}
} ,
"auction_discount" : "123.456789" ,
"min_collateral_ratio" : "123.456789" ,
"ipo_params" : {
"mint_end" : "10000000" ,
"pre_ipo_price" : "7.77" ,
"min_collateral_ratio_after_ipo" : "1.5"
}
}
}
Key Type Description New auction discount rate
New minimum collateralization ratio
Parameters to be used for Pre-IPO asset
* = optional
IPOParams
Key Type Description Time which mint_period
ends
Fixed price to be used to mint during mint_period
min_collateral_ratio_after_ipo
Minimum collateralization ratio to be used after IPO is triggered (Used for pre-IPO)
RegisterAsset
Registers a new mAsset to be mintable.
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum HandleMsg {
RegisterAsset {
asset_token : HumanAddr ,
auction_discount : Decimal ,
min_collateral_ratio : Decimal ,
ipo_params : Option < IPOParams >
},
Copy {
"register_asset" : {
"asset_token" : "terra1..." ,
"auction_discount" : "0.2" ,
"min_collateral_ratio" : "1.5" ,
"ipo_params" : {
"mint_end" : "10000000" ,
"pre_ipo_price" : "7.77" ,
"min_collateral_ratio_after_ipo" : "1.5"
}
}
Key Type Description Contract address of mAsset to be registered
Minimum collateralization ratio
Parameters to be used for Pre-IPO asset
*= optional
TriggerIPO
Asset feeder is allowed to trigger IPO event on pre-IPO asset to have the following characters:
Oracle feeder now feeds real-time price of the underlying asset
The asset becomes mintable again, even after the mint_period
has ended
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum HandleMsg {
TriggerIPO {
asset_token : HumanAddr ,
},
Copy {
"trigger_ipo" : {
"asset_token" : "terra1..."
}
}
Key Type Description Contract address of the token
RegisterMigration
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum HandleMsg {
RegisterMigration {
asset_token : HumanAddr ,
end_price : Decimal ,
}
}
Copy {
"register_migration" : {
"asset_token" : "terra1..." ,
"end_price" : "123.456789"
}
}
Key Type Description Contract address of asset to be migrated
Final price to freeze old mAsset
OpenPosition
Used for creating a new CDP with TerraUSD collateral. For creating a CDP using mAsset collateral, you need to use the Receive Hook variant .
Opens a new CDP with an initial deposit of collateral. The user specifies the target minted mAsset for the CDP, and sets the desired initial collateralization ratio, which must be greater or equal than the minimum for the mAsset. The initial amount of minted mAsset tokens are determined by:
Copy let mint_amount = collateral . amount
* collateral_price
* reverse_decimal (asset_price)
* reverse_decimal (collateral_ratio);
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum HandleMsg {
OpenPosition {
collateral : Asset ,
asset_info : AssetInfo ,
collateral_ratio : Decimal ,
short_params : Option < ShortParams >,
}
}
pub struct Asset {
pub info : AssetInfo ,
pub amount : Uint128 ,
}
#[serde(rename_all = "snake_case" )]
pub enum AssetInfo {
Token { contract_addr : HumanAddr },
NativeToken { denom : String },
}
Copy {
"open_position" : {
"collateral" : {
"info" : {
"token" : {
"contract_addr" : "terra1..."
}
} ,
"amount" : "1000000"
} ,
"asset_info" : {
"token" : {
"contract_addr" : "terra1..."
}
} ,
"collateral_ratio" : "1.5" ,
"short_params" : {
"belief_price" : "123.456789" ,
"max_spread" : "0.1"
}
}
}
Key Type Description Asset to be minted by CDP
Initial collateral deposit for the CDP
Initial desired collateralization ratio
Terraswap Price and spread limit to immediately short tokens after CDP creation (used for "Short")
*= optional
ShortParams
If optional short_params
is added, mint contract will immediately sell the minted mAssets andsLP
tokens will be minted and sent to the user. The UST obtained from the operation will be added to the user's lock position in lock contract .
Rust
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
pub struct ShortParams {
pub belief_price : Option < Decimal >,
pub max_spread : Option < Decimal >,
}
Key Type Description Price submitted to the Terraswap pool
Maximum slippage accepted during swap transaction against the Terraswap Pool
*=optional
Deposit
Used for depositing TerraUSD collateral. For depositing mAsset collateral to a CDP, you need to use the Receive Hook variant .
Deposits additional collateral to an existing CDP to raise its C-ratio.
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum HandleMsg {
Deposit {
collateral : Asset ,
position_idx : Uint128 ,
}
}
Copy {
"deposit" : {
"collateral" : {
"info" : {
"native_token" : {
"denom" : "uusd" ,
}
} ,
"amount" : "1000000"
} ,
"position_idx" : "10000000"
}
}
Key Type Description Collateral amount to be deposited
Withdraw
Withdraws collateral from the CDP. Cannot withdraw more than an amount that would drop the CDP's C-ratio below the minted mAsset's mandated minimum.
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum HandleMsg {
Withdraw {
collateral : Asset ,
position_idx : Uint128 ,
}
}
Copy {
"withdraw" : {
"collateral" : {
"info" : {
"token" : {
"contract_address" : "terra1..."
}
} ,
"amount" : "1000000"
} ,
"position_idx" : "10000000"
}
}
Mint
Mints new mAssets against an existing CDP. Cannot mint more than what would bring the CDP's C-ratio below its minted mAsset's mandated minimum.
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum HandleMsg {
Mint {
asset : Asset ,
position_idx : Uint128 ,
short_params : Option < ShortParams >,
}
}
Copy {
"mint" : {
"position_idx" : "10000000" ,
"asset" : {
"info" : {
"token" : {
"contract_address" : "terra1..."
}
} ,
"amount" : "1000000"
} ,
"short_params" : {
"belief_price" : "123.456789" ,
"max_spread" : "0.1"
}
}
}
Key Type Description Terraswap Price and maximum slippage tolerance to be applied for selling minted token after position creation (used for "Short")
Receive Hooks
OpenPosition
Issued when a user sends mAsset tokens to the Mint contract.
Uses the sent amount to create a new CDP.
Used for creating a new CDP with mAsset collateral. For creating a CDP using TerraUSD collateral, you need to use the HandleMsg variant.
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum Cw20HookMsg {
OpenPosition {
asset_info : AssetInfo ,
collateral_ratio : Decimal ,
short_params : Option < ShortParams >,
}
}
Copy {
"open_position" : {
"asset_info" : {
"token" : {
"contract_addr" : "terra1..."
}
} ,
"collateral_ratio" : "123.456789" ,
"short_params" : {
"belief_price" : "123.456789" ,
"max_spread" : "0.1"
}
}
}
Key Type Description mAsset to be minted by CDP
Initial collateralization ratio to use
Terraswap Price and spread limit to immediately short tokens after CDP creation (used for "Short")
Deposit
Issued when a user sends mAsset tokens to the Mint contract.
Deposits the amount as collateral to an open CDP.
Used for depositing mAsset collateral. For depositing TerraUSD collateral to a CDP, you need to use the HandleMsg variant .
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum Cw20HookMsg {
Deposit {
position_idx : Uint128 ,
}
}
Copy {
"deposit" : {
"position_idx" : "10000000"
}
}
Burn
Issued when a user sends mAsset tokens to the Mint contract.
Burns the sent tokens against a CDP and reduces the C-ratio. If all outstanding minted mAsset tokens are burned, the position is closed and the collateral is returned.
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum Cw20HookMsg {
Burn {
position_idx : Uint128 ,
}
}
Copy {
"burn" : {
"position_idx" : "10000000"
}
}
Auction
Issued when a user sends mAsset tokens to the Mint contract.
Purchases the collateral of a CDP subject to liquidation (whose C-ratio has fallen under its minted mAsset's minimum). The buyer cannot pay more than the CDP's current minted mAsset balance.
The discounted price for the collateral is calculated as follows:
Copy let discounted_price = price * ( 1 - config . auction_discount);
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum Cw20HookMsg {
Auction {
position_idx : Uint128 ,
}
}
Copy {
"auction" : {
"position_idx" : "10000000"
}
}
QueryMsg
Config
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum QueryMsg {
Config {}
}
Response
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
pub struct ConfigResponse {
pub owner : HumanAddr ,
pub oracle : HumanAddr ,
pub collector : HumanAddr ,
pub collateral_oracle : HumanAddr ,
pub staking : HumanAddr ,
pub terraswap_factory : HumanAddr ,
pub lock : HumanAddr ,
pub base_denom : String ,
pub token_code_id : u64 ,
pub protocol_fee_rate : Decimal ,
}
Key Type Description Contract address of Mirror Collateral Oracle
Contract address of Mirror Staking
Contract address of Terraswap Factory
Contract address of Mirror Lock
Native token denomination for stablecoin (TerraUSD)
Code ID for Terraswap CW20 Token
Response
Copy {
"config_response" : {
"owner" : "terra1..." ,
"oracle" : "terra1..." ,
"collector" : "terra1..." ,
"collateral_oracle" : "terra1..." ,
"staking" : "terra1..." ,
"terraswap_factory" : "terra1..." ,
"lock" : "terra1..." ,
"base_denom" : "uusd" ,
"token_code_id" : 8 ,
"protocol_fee_rate" : "123.456789"
}
}
Key Type Description Contract address of Mirror Collateral Oracle
Contract address of Mirror Staking
Contract address of Terraswap Factory
Contract address of Mirror Lock
Native token denomination for stablecoin (TerraUSD)
Code ID for Terraswap CW20 Token
AssetConfig
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum QueryMsg {
AssetConfig {
asset_token : HumanAddr ,
}
}
Key Type Description Contract address of asset to query
Response
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
pub struct AssetConfigResponse {
pub token : HumanAddr ,
pub auction_discount : Decimal ,
pub min_collateral_ratio : Decimal ,
pub end_price : Option < Decimal >,
pub ipo_params : Option < IPOParams >,
}
Key Type Description Contract address of asset to query
Discount rate applied for liquidation auction
Lowest collateral ratio to mint this mAsset
Fixed oracle price of mAsset when migration / Pre-IPO / Delisting occurs
Parameters to be used for Pre-IPO assets
*= optional
Copy {
"asset_config" : {
"asset_info" : {
"token" : {
"contract_addr" : "terra1..."
}
}
}
}
Key Type Description Contract address of asset to query
Response
Copy {
"asset_config_response" : {
"token" : "terra1..." ,
"auction_discount" : "0.2" ,
"min_collateral_ratio" : "1.5" ,
"end_price" : "123.456789" ,
"ipo_params" : {
"mint_end" : "10000000" ,
"pre_ipo_price" : "7.77" ,
"min_collateral_ratio_after_ipo" : "1.5"
}
}
}
Key Type Description Contract address of asset to query
Discount rate applied for liquidation auction
Lowest collateral ratio to mint this mAsset
Fixed oracle price of mAsset when migration / Pre-IPO / Delisting occurs
Parameters to be used for Pre-IPO assets
*= optional
Position
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum QueryMsg {
Position {
position_idx : Uint128 ,
}
}
Key Type Description Index of position to query
Response
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
pub struct PositionResponse {
pub idx : Uint128 ,
pub owner : HumanAddr ,
pub collateral : Asset ,
pub asset : Asset ,
pub is_short : bool ,
}
Name Type Description Determines if CDP is short position or not
Copy {
"position" : {
"position_idx" : "10000000"
}
}
Key Type Description Index of position to query
Response
Copy {
"position_response" : {
"idx" : "100" ,
"owner" : "terra1..." ,
"collateral" : {
"info" : {
"token" : {
"contract_addr" : "terra1..."
}
},
"amount" : "1000000"
},
"asset" : {
"info" : {
"token" : {
"contract_addr" : "terra1..."
}
},
"amount" : "1000000"
},
"is_short" : true
}
}
Name Type Description Determines if CDP is short position or not
NextPositionIdx
Returns the most recent position ID +1.
Rust JSON
Copy #[derive( Serialize , Deserialize , Clone , Debug , PartialEq , JsonSchema )]
#[serde(rename_all = "snake_case" )]
pub enum QueryMsg {
NextPositionIdx {}
}
Response
Copy #[derive( Serialize , Deserialize , Clone , PartialEq , JsonSchema , Debug , Default )]
pub struct NextPositionIdxResponse {
pub next_position_idx : Uint128 ,
}
Key Type Description Index of the next position to be created
Copy {
"next_position_idx" : {}
}
Response
Copy {
"next_position_idex_response" : {
"next_position_idx" : "1000000"
}
}
Key Type Description Index of the next position to be created
Positions
Rust JSON
Copy #[derive(Serialize, Deserialize, Clone, Debug, PartialEq, JsonSchema)]
#[serde(rename_all = "snake_case")]
pub enum QueryMsg {
Positions {
limit: Option<u32>,
owner_addr: Option<HumanAddr>,
asset_token: Option<HumanAddr>,
start_after: Option<Uint128>,
}
}
Copy {
"positions": {
"limit": 8,
"owner_addr": "terra1...",
"start_after": "10000000"
}
}
Key Type Description Upper bound of number of entries to query
Contract address of asset token
Position index to start at
* = optional