Restructured SSB Platform In-depth Walkthrough

Our New SSB Guide after Restructuring

Create an SSB contract, or take over one. It’s that simple.

This guide is a detailed walk-through of our Restructured Simplified Stable Bonds (SSB) Contracts.

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1. Creating an SSB Contract

Click here for “Creating an SSB Contract” video tutorial guide:

Here are the steps to creating an SSB contract:
1. Connect your wallet

2. Click “+ Create Contract”

3. Select Contract Terms
a) Choose Collateral — MXX or TAKO only.

b) Choose amount of collateral and tenure (3, 6, 9 months)

4. Click “+ Create Contract”

After depositing your collateral and paying the MXX burn fee, you have successfully created an SSB Contract.

1.1 Key points for creating SSB Contract

a) Yield for 3 different tenures.

3 months 50% APY
6 months 100% APY
9 months 250% APY

b) 3% of the expected MXX yield is required for the upfront burn free.

You will need to have MXX to create an SSB contract. MXX is traded on Bilaxy and Uniswap (0x8a6f3bf52a26a21531514e23016eeae8ba7e7018).

c) Yield in MXX is calculated based on the mint factor at time of contract creation. (What is my exact yield?)

For example, if you deposit 200,000 MXX and choose a 9-month contract of 250% APY, you will mint 358,767 MXX by the end of the contract after burn fees.

Calculation:

Minted MXX -> 200,000 MXX * 270/365 * 250% = 369,863 MXX

Burn Fee -> 3% * 369,863 = 11,096 MXX

Net Minted MXX -> 369,863–11,096 = 358,767 MXX

d) Mint Factor is updated and announced in our discord, telegram and twitter.

Multiplier does not use a price oracle due to potential manipulation. For more information, please refer to whitepaper.

e) How often do I pay gas fees?

Normally, you will pay 2 gas fees.

Once for creating/taking over a contract, and once more for closing the contract.

However, you will pay 1 gas fee to validate each collateral.

2. Redeeming an SSB Contract

Click here for “Redeeming an SSB Contract” video tutorial guide:

Here are the steps to redeeming your SSB Contract:
1. Click “Early Redemption”

2. Click on “Proceed”

3. Early Redemption Successful

Collateral and MXX transferred to wallet.

2.1 Key points for redeeming SSB Contracts

a) You will receive collateral and pro-rated MXX tokens.

By redeeming/closing the SSB contract, your collateral will be returned and you will receive the pro-rated minted MXX tokens up to redemption date.

b) You are required to pay a contract redemption burn fee.

There are only 2 burn fees; contract creation, and contract redemption. If you complete the full tenure of a contract, there are no burn fees.

c) How do I calculate the burn fees for redeeming contracts?

Basically, the burn fees decreases in a straight line. Starting at 50% on contract creation date to 5% on contract ending date. If you redeem your contract halfway through your tenure, you will pay 22.5% in burn fees.

d) Your redeemed contract will be available for take over by other users on the Open Market.

3. Taking over SSB Contracts

Click here for “Taking over SSB Contracts” video tutorial guide:

Here are the steps to taking over SSB Contracts:
1. Click “Open Market”

2. Click “Take over”

3. Deposit collateral

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4. Contract Take Over Successful

3.1 Key points for taking over SSB Contracts

a) Lower gas fees compared to creating contracts.

b) No burn fees.

c) Taking over contracts will resume the minting of MXX for the remainder of the contract.

d) Contracts continue to mint MXX even though they are in the Open Market.

4. Contract Take Over Successful

3.1 Key points for taking over SSB Contracts

a) Lower gas fees compared to creating contracts.

b) No burn fees.

c) Taking over contracts will resume the minting of MXX for the remainder of the contract.

d) Contracts continue to mint MXX even though they are in the Open Market.

Final Note:

After SSB Restructuring, SSB has a fixed amount of MXX that can be minted. This is shown on the top right-corner.

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