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.