This document specifies the commerciomint module of the Commercio Network.
commerciomint module is the one that allows you to create Exchange Trade Position (ETPs) using your
Commercio.network tokens (ucommercio) in order to get Commercio Cash Credits (uccc) in return.
A Exchange Trade Position (ETP) is a core component of the Commercio Network blockchain whose purpose is to
create Commercio Cash Credits (
uccc) in exchange for Commercio Tokens (
ucommercio) which it then holds in
escrow until the borrowed Commercio Cash Credits are returned.
In simple words, opening an ETP allows you to exchange any amount of
ucommercio to get relative the amount of
uccc with relative Conversion Rate value.
For example, if you open an ETP lending
100 ucommercio with 1.1 Conversion Rate value will result in you receiving
90 uccc (approximation by default).
Initial Conversion Rate value in Params is 1.