Minting price-stable credit

After the stable credit parameters are set up, the trusted partner can mint the credit by transferring VELO collateral to the DRS node.

The amount of stable credit that is minted will depends on the value of the VELO collateral transferred to the DRS and the pegged currency price.

Please note the following formula is used to calculate the amount of minted stable credit,

amountOfVELOCollateralisedpriceInCurrencyPerAssetUnitpeggedValue\frac {amount OfVELOCollateralised * priceInCurrencyPerAssetUnit } {peggedValue}

Price is calculated based on the median price recorded by the price account within the last 15 minutes.

At the initial stage, the VELO token is the only type of collateral we accept.

The newly minted stable credit will be then sent to the distribution account that corresponds to the issuing account of the stable credit. It is not directly sent to your address.