TIME Token Finance
  • Introduction
  • TIME Token + Tabs
    • 📄Tokenomics
    • ⏳Production (Time Tokenization)
    • 🤝Exchange
    • 👥Community Pool
    • ⚙️Employer
    • 💰Sponsor
    • 🍀Smarter
  • Time is UP (TUP) + Worker
    • 📄Tokenomics
    • 🤖Automatic Arbitrage with Flash Loan / Flash Swap
    • 📥Automatic Dividend Distribution
    • ⛓️Cross Chain Support
    • ⚡Flash Mint Support
    • 👷Worker
  • 🛣️Roadmap and Future Works
  • ⚙️Smart Contracts
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  1. Time is UP (TUP) + Worker

Flash Mint Support

Expanding the array of functionalities offered by TUP, we introduced support for Flash Mint, catering to developers who choose to utilize or integrate TUP into their services and protocols.

To explain the mechanism, Flash Mint, in tandem with the TUP protocol, operates as follows: any address can interact with the contract by employing the function flashMint(uint256 tupAmountToBorrow, bytes calldata data). This function allows specifying the desired amount of TUP to be minted/borrowed, along with additional arbitrary parameters encoded as bytes calldata. After invoking the function, the contract will return to the caller and execute the doSomething(uint256 amountTup, uint256 fee, bytes calldata data) function. It is essential to declare the doSomething() function and include the necessary logic to cover the operation's fees upon execution.

Notably, the fees must be paid in the native cryptocurrency token, amounting to 1% of the total TUP value generated. Despite potential debates over the service cost, we have concluded that this fee is equitable, given that all collected funds are distributed evenly to token holders as dividends, without any discrimination. Furthermore, it's important to bear in mind that Flash Mint can only generate an amount equivalent to the total supply for the smart contract on the specific network.

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Last updated 1 year ago

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