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User Conversion Terms

The quotation conventions are defined here.

TermStable TokenUnitsValueDescription
Minter Conversion PriceuUSD, uDEFIuUSD/USD, uDEFI/DEFI1.25The fixed price expressed in numéraire at which a minter can buy back youves tracker tokens from the savings pool / minter conversion pool against eligible collateral. The exchange rate of youves tracker tokens against eligible collateral will be derived from the minter conversion price and the market price of eligible collateral.
Holder Conversion PriceuUSD, uDEFIuUSD/USD, uDEFI/DEFI0.9375The fixed price expressed in numéraire at which a holder can sell back youves tracker tokens to a minter against eligible collateral. The exchange rate of youves tracker tokens against eligible collateral will be derived from the holder conversion price and the market price of eligible collateral.
Holder Conversion Announcement PerioduUSD, uDEFIhours24The time period which a holder has to wait after committing to exercise the holder conversion right until it can sell the youves tracker tokens to a minter against eligible collateral. The time is cut short if there is a volunteer willing to match the conversion by selling eligible collateral.
VolunteeruUSD, uDEFIn/an/aDuring the holder conversion announcement period any minter can step forward and exchange eligible collateral against youves tracker tokens at the holder conversion price.