mUSDT Minting and Burning

LPs deposit USDT in the mUSDT Vault and mint mUSDT at the current price, while withdraw USDT by burning mUSDT at the current price, which has no impact on mUSDT price.

LPs are able to deposit USDT and mint mUSDT only if the Collateral Rate is lower than 150%. mUSDT Vault provides LPs with minting discounts based on locking period and collateral rate, incentivizing LPs to mint and lock mUSDT, and obtain mNFT representing the ownership of locked mUSDT, which accumulates rewards for locked mUSDT.

The daily mUSDT minting amount increases by up to 2% of the vault. The locking period ranges from 14 days to 365 days.

LPs cannot withdraw mUSDT during the locking period, and can burn mNFT to convert mUSDT after the locking period.

Vault Collateral Rate	Discount rate of minting and locking mUSDT
CR<100%	5%
100≤CR<150%	When the collateral rate is between 100% and 150%, the discount rate decreases linearly from 5% to 0%
CR≥150%	Unable to deposit USDT and mint mUSDT

When the collateral rate is lower than 150%, the Discount Rate for minting and locking USDT = min (1, (150% - Current Collateral Rate) / 50%) * Maximum Discount Rate5% * Locking Period (days) / 365.

The number of mUSDT that can be minted by 1 USDT = 1/mUSDT price * (100% + Discount Rate).