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XCarnival Public Document
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    • About Genesis NFTs
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  • PRODUCT & FEATURE
    • XBroker
      • Market place
      • Borrow
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      • Liquidate
    • Megabox
      • Market
      • Mint
      • Dashboard
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  • TOKENOMICS
    • $XCV
    • $USDxc StableCoin
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  • User Guide for the Closed Beta Test
  • 2. liquidation step:
  • 3.How to view records:

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  1. PRODUCT & FEATURE

Megabox

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Last updated 3 years ago

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Megabox Explained

Megabox is a platform that allows users to mint USDxc by pledging stablecoins. The minted USDxc can be used for token lending or liquidation on XBroker

User Guide for the Closed Beta Test

  1. USDxc minting steps:

a. Select “Megabox” -> “Market” to view the pledgeable stablecoin assets i n the market, the corresponding maximum amount of mintable USDxc, the maximum loan-to-value (LTV), and the liquidation threshold.

b.Select "Megabox" -> "Mint", enter the amounts of pledged assets and USDxc to be minted, and click “Mint” to start.

2. liquidation step:

a. For liquidators, select “Megabox” -> “Liquidation” to view the assets available for liquidation in the market.

Click “Liquidate,” and enter the quantity of assets to start.

b. For borrowers, select “Megabox” -> “Dashboard” -> “Mint management” to view the details o f the currently minted assets. Pay attention to the LTV and token prices as liquidation will be triggered as the market price of the collateralized stablecoins drops below the liquidation threshold.

3.How to view records:

a. Select “Megabox” -> “Dashboard” -> “Mint management” to view the existing minted assets. Click “More” to change the amount of assets and adjust the current LTV; click “Deposit”/“Withdraw” to increase/decrease the number of pledged stablecoins; click “Burn” to reduce the amount of USDxc and the corresponding pledged stablecoins; and click “Mint” to create more pledged coins to increase the amount of USDxc

b. Select “Megabox” -> “Dashboard” -> “Transactions record” to view all the deposit, minting, redemption, and withdrawal records.

c. Select “Megabox” -> “Dashboard” -> “Liquidation record” to view all the liquidation records, including the assets lost and/or obtained through liquidation.