> For the complete documentation index, see [llms.txt](https://ibnsctrade.gitbook.io/ibnsctrade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://ibnsctrade.gitbook.io/ibnsctrade/components.md).

# Components

IBNSCTrade is a state-of-the-art decentralized finance platform that combines advanced smart contract capabilities with innovative asset management strategies. Here, we detail the key components that make up the IBNSCTrade ecosystem:

1. **IBNSC Strategists**
   * These strategists operate as the core smart contract hubs within IBNSCTrade, generating yield and yield advances similar to platforms like MakerDAO and AAVE.
   * Accepted collateral types include ETH, DAI, USDC, USDT, and FRAX, along with yield-bearing tokens for each respective strategy.
   * Loans are issued in the form of synthetic IBNSC assets: IBNSC-ETH against ETH, and IBNSC-USD against stablecoins.
   * A service fee of 10% on generated yield is allocated to the IBNSCTrade DAO treasury.
2. **Transmuter**
   * IBNSCTrade incentivizes liquidity for synthetic IBNSC assets, enabling users to swap these assets for their underlying value.
   * The Transmuter acts as a price stability module, allowing users to stake synthetic IBNSC assets, converting them into base assets over time.
   * It functions as a backstop for the redeemability of synthetic IBNSC assets, supported by a time-based formula for asset conversion.
3. **IBNSC Assets (Synthetic Debt Tokens)**
   * These tokens represent a user's claim on future yield.
   * They are designed to be sold or used for on-chain and real-world transactions.
   * Market dynamics typically price IBNSC assets at a discount to the underlying asset, reflecting the cost of accessing future yield in advance.
4. **Elixir AMO (Asset Management Operation)**
   * Addresses surpluses in the Transmuter by deploying them in liquidity pools for corresponding IBNSC assets.
   * Managed by the IBNSCTrade DAO, it enhances the liquidity and market price of IBNSC assets while generating additional yield.
5. **IBNSCTrade DAO**
   * Governs the IBNSCTrade Finance platform, overseeing the deployment of strategies, fund allocation, and protocol upgrades.
   * Operates with a decentralized governance model powered by the IBN governance token.
6. **IBN Token**
   * The governance token of IBNSCTrade, with initial supply and emissions distributed among developers, the DAO, and the community.
   * Enables token holders to participate in governance decisions, influence protocol development, and receive a portion of the fees generated.