uxd-program
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UXDProtocol
UXP insurance fund, how does it work in practice
Would that be deposited on a mango account to prevent liquidation due to negative funding rate? If so we need to add some "admin" instructions to the program
@SoteriaKento so this one will be that before releasing the mainnet we will fund each depository's mango account with a insurance amount (one depository per mint).
Sounds good? Any more advanced mechanism or better way to tracks what's up
Before release we should plan to have a backoffice that displays the current amouns of fund/insurance of each depository, total uxd out, uxd value vs collateral value in all depositories. Would that be hard to whip @ThomasProust @ywvlfy ?
I think that would make us feel safer and more informed. All the info is there on chain from a few accounts.
Don't think it would be that hard. It just needs one of us to focus on that for a few days
Don't think it would be that hard. It just needs one of us to focus on that for a few days
Please get that rolling asap and make someone the owner of it
- for UXD mainnet we will need to add new instructions to the program to deposit/withdraw insurance, and to keep the value of the insurance + accrued yield from auto lending in the program state.
A tight accounting will allow us to know what's going on and how much leeway we have. This informations will also be able to be reflect in the backoffice dashboard