🪙Mint $PONY
You will now be finally able to mint PONY tokens through Etherscan. Go to its Contract tab (https://etherscan.io/token/0x0d97fee619d955509e54b046c9992b6e9f5b0630#writeContract) and enter the amount to be minted with 18 additional zeros.
PONY’s net asset value is in the order of USDC 1.1 so you should be able to mint approximately “initial USDC amount deposited divided by 1.1” PONY tokens. The current net asset value up to four decimals is available on https://ponyfinance.xyz/.
Since each bridging on Multichain incurred a fee of the greater of 0.1% and ~$80 (up to a maximum cap of ~$1000) the actual amount will be lower.
You will see an error message on MetaMask if you do not hold sufficient amount of tokens to mint:
Otherwise, minting should cost in the order of $50-100 depending on current gas prices.
To quickly calculate how many PONY tokens you can mint, you can also divide each vault token you hold in your Ethereum wallet by the “weights * ibRatio * 1e-36“ units mentioned above. The smallest number for any vault is the maximum you can mint.
Redemption
At all times $PONY can be redeemed for its constituents through the token contract's burn function. Token units have to be multiplied by 1e18.
The token contract's balanceOf function returns the exact amount held by any given address.
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