Mines
Last updated
Last updated
Mines are wrapped assets consisting of one or several underlying hybrid assets. Initially, we'll focus on a Mine only for MINER, with plans to add more pools on the platform as more projects adopt ERC-X.
A mine basically represent an index by encompassing multiple hybrid assets or a synthetic form of a single hybrid asset. All mines are initially backed on a 1:1 basis by the underlying assets at the time of their creation. This ratio is maintained as a minimum but can increase if the mine integrates an xMINER burn fee.
Mines are symbolized by vault shares, and holders of the receipt (xMINER) can unwrap their assets at any moment to reclaim a portion of the underlying hybrid asset proportional to their stake in the corresponding mine.
