How to earn with Janus Gate
Last updated
Last updated
The Janus Gate is the main component of the Finance module of the Open Port ecosystem in the early stage, supporting Mint/Redeem/Buyback/Re-collateralize based on PST and PEACE. At the same time, the Janus Gate also acts as the reserve asset vault and token supply regulator.
PUST is a stablecoin asset backed by protocol controlled value (PCV), with floating collateral rate between full collateral (as DAI in the MakerDao protocol) and full algorithm (as Ampleforth in the AMPL protocol) while PEACE is the governance token of Open Port protocol. PUST can always be minted and redeemed in the Janus Gate at a ratio of 1 PUST: 1USD equivalent assets. In the initial state, 100% USDT or USDC collateral needs to be provided to mint PUST. As the price of PUST surges higher and higher, the protocol will decrease the collateral ratio of USDT/USDC, and the reduced collateral value needs PEACE instead. On the contrary, the protocol will increase the collateral ratio of USDT/USDC.
Specifically, the protocol will automatically adjust the collateral ratio per hour based on the weighted average price of PUST in the past hour.
When the weighted price is lower than 0.995 USDT, collateral ratio will increase by 0.25% per hour until 50%;
When the weighted price is higher than 1.005 USDT, the collateral ratio will decrease by 0.25% per hour until 100%.
There are arbitrage opportunities relying on the floating collateral ratio mechanism, the community can earn from the difference between the PUST price and the collateral value, as well as the difference between the actual collateral percentage and the floating collateral ratio,The specific arbitrage strategies for Mint/Redeem/Buyback/Re-collateralize are as follows.
When the PUST price is above $1.005, mint PUST to earn more.
When PUST price is $3.449834, PEACE price is $0.265078, USDT exchange rate is 1.000199, and the floating collateral ratio is 85.25%.
According to the mint rules, PUST casting value = value of collateral + value of PEACE, namely,
G = (Y∗Py) + (Z∗Pz)
(1−Cr)(Y∗Py)=Cr(Z∗Pz)
For more details, please refer to
If 10 USDT is provided as collateral and the matching PEACE is
10*1.000199*(1-85.25%)/85.25%=1.73 PEACE,
Amount of PUST minted out would be 10*1.000199/85.25%=11.73 PUST
Given the fee rate of 0.5%, 11.67 PUST would be received
While the market value of 11.67 PUST is 11.67$ * 3.449834=$40.25
Hints:
1 PUST can always be minted with collateral worth 1 USD with the Janus Gate.
You can choose either USDT or USDC as the collateral.
The newly minted PUST tokens need to be claimed manually.
Now more than 3.4 times of arbitrage space earned through mint PUST !
When the PUST price is below $0.995, you can provide PUST to redeem the collateral in USDT or USDC to earn more.
When PUST price is $0.7833, PEACE price is 0.060187,USDT exchange rate is 1.000202, and floating collateral ratio is 85.25%.
According to the redeem rules,
G*Cr=Y∗Py
G*(1-Cr)= Z∗Pz
For more details, please refer to
If 10 PUST is provided, taking the 0.5% fee rate into consideration, the actual redeemed value is $9.95,
You can redeem out 85.25%*10/1.000202=8.480661USDT
And (1-85.25%)10/0.060187=24.384418 PEACE
While the market value of 10 PUST is 10$0.7833=$7.833
Hints:
1 PUST can always redeem out the collateral assets worth 1USD with the Janus Gate.
You can choose either USDT or USDC to redeem out.
The redeemed USDT/USDC and PEACE need to be claimed manually.
1 PUST can always redeem out the collateral assets worth 1USD with the Janus Gate.
You can choose either USDT or USDC to redeem out.
The redeemed USDT/USDC and PEACE need to be claimed manually.
Now more than 1.27 times value obtained through redeem !
When the PUST: price is above $1.005, the floating collateral ratio decreases gradually. PEACE can be offered to swap USDT or USDC when the floating collateral ratio falls below the actual collateral rate.
When PUST price is $3.449834, PEACE price is $0.265078, USDT exchange rate is 1.000199, and floating collateral ratio is 85.25%.
According to the buyback rules, value of PEACE = value of collateral received, that is, Y*Py = Z∗Pz
For more details, please refer to
The amount of PEACE available to Buyback is shown as 12.82925025 PEACE at the moment.
If you provide 10 PEACE to swap USDT, you can get 10*0.265078/1.000199=2.65025USDT.
Given the fee rate of 0.5%, 2.637001USDT was actually received.
Hints:
The swapped USDT/USDC will be automatically sent to the wallet address with no need to claim manually;
You can choose either USDT or USDC to swap out.
When the PUST price is below $0.995, the floating collateral ratio increases gradually. When it is higher than the actual collateral rate, offering USDT or USDC to swap for PEACE will receive 1% PEACE reward.
When PUST price is $0.765337, PEACE price is $0.058807, USDT exchange rate is 1.000067, and floating collateral ratio is 86.75%,
According to the re-collateralize rules, value of collateral*(1+ bonus rate) = value of PEACE received, that is,
(1+Br)Y*Py = Z∗Pz
For more details, please refer to
The amount of USDT available to re-collateralize is shown as 0.090014 at the moment.
If you provide 0.09 USDT, you can get (1+1%)0.091.000067/0.058807=1.645837 PEACE.
Given the fee rate of 0.5%, 1.538185 PEACE was actually received.
Hints:
The swapped PEACE token will be automatically sent to the wallet address with no need to claim manually;
You can choose either USDT or USDC as the collateral.
Taking the 0.5% fee rate into consideration, you will gain 0.5% more PEACE token through re-collateralize!
The Janus Gate also supports PEACE/PUST and PUST/USDT liquidity mining through Farm- Liquidity- Deposit. Adding liquidity for the two token pairs on Pancakeswap and stake LP tokens in the farm pools to earn high PEACE rewards.
To get higher yield, you can lock-up LP tokens to boost reward. The lock-up period is from 7 days to 365 days. The longer the lock-up time, the higher the bonus. The highest reward standard (lock-up 365 Days) is 3 times the non-locked standard.
For more details, please refer to