This feature allows users to mint Sugar tokens by depositing BNB into the Hedge and Risk vaults.
The Caramel Vault is designed for premium depositors who want to protect themselves against a de-pegging incident.
Users will receive SugarYield Sugar tokens when they deposit BNB into Caramel (hedging) vaults. The Saltish vault is intended for collateral depositors who want to cover that risk.
Users that deposit BNB into Saltish vaults will receive SugarYield Salt tokens.
Users will be able to create USDC, USDT, and $SUGAR tokens using the strike prices stated. Each strike price will be assigned a unique SugarYield token dependent on the severity of the anticipated de-pegging event.
During the IFO: users will be allowed to Mint SugarYield tokens from 12:00 pm EST 1/31/2023 until 12:00 pm EST 2/07/2023 when the Epoch starts. Only the first Weekly epoch will have a 7-day deposit period, all epochs thereafter will follow a standard deposit period of 2 days and 7 days for Weeklies and Monthlies respectively.
Users' SugarYield vault tokens will be available on the claim tab after they mint them. The token's status will be "ongoing" during the period. At the end of the period, users will be able to receive their SugarYield token prizes. If a depeging event occurs, depositors in the Caramel vaults will be able to receive prizes. In this situation, the token's status will be "win," and users will be able to "claim" it. Depositors in the Saltish vaults will see "collateral liquidated" beneath their SugarYield tokens but will still have the ability to "claim premium". If the epoch does not conclude with a de-peg, the Hedge token status will be "liquidated," and users will be able to "burn" their tokens. The Saltish token status will demonstrate the win and the users will be able to claim their rewards.
Note that the first Epoch will end at noon EST on the Epoch end date.
Interacting with UI :
Visit our page: SugarYield.com
1. Go on the Mint tab
2. Select your position “Caramel” or “Saltish”
3. Select your asset
4. Select your strike price
5. Select Epoch
6. Choose your deposit Token (BNB or WBNB) and Deposit your amount
7. Approve Wrapped BNB
8. Click “Mint Check your Tokens on “Claim”
9. When the Epoch is over or a Depeg event is triggered you will be able to Claim your Rewards