Overall Guide of MITH Cash for Beginners (EN / ZH)

How does MITH Cash mechanism work?

MIS and MIB mentioned above are designed to move MIC towards the value of $1. How they work will be elaborated in the following scenarios: MIC above $1 and below $1.

When MIC is above $1

When MIC is traded above $1, called the Expansionary Phase, users will be able to redeem MIBs for MIC at 1:1, causing an increase in the demand of MIC. Therefore, new MIC tokens are minted and distributed to MIS holders.

When MIC is below $1

When MIC is below $1, called the Contractionary Phase, users will be able to purchase MIB at a discount in order to stabilize the price of MIC, with the expectation of redeeming each MIB for MIC in the future when MIC exceeds $1.

How to earn a distribution reward (MIC mining until 1/4 0200 UTC)?

Step 1: Earn MIC

1.Go to MITH Cash

Step 2: To Earn MIS

The point of step 2 is ‘to provide price liquidity to Sushiswap and receive MIS as a reward.

What risks need to be considered?

Now that you know how MITH Cash works, before you start, you should understand the risks:

1. When is Expansionary Phase or Contractionary Phase

Make sure you understand both phases before trading the tokens. MIB can only be redeemed during the expansion phase, that is, when the MIC is higher than $1.01.

2. Transaction fee

Each staking action costs ETH transaction fee so you should assess the total amount of fees before entering into a position.

3.Latest news

Join Discord, Twitter and Telegram for the latest information on MITH Cash.

MITH Cash 新手入門篇

MITH Cash 是Basis Cash的分支,協議中包含三種代幣,分別是MITH Cash (MIC)、 MITH Share(MIS) 和 MITH Bond (MIB)。MITH Cash (MIC) 是一種新型算法穩定幣,價值錨定1美元。 MITH Share(MIS) 則是一種所有權的代幣,由於MIS的持有者是提供MIC流動性的角色,因此可以通過MIC增發而獲取獎勵。

MITH Cash的運行機制為何?

前述所提及的MIS 和 MIB 是驅使MIC的價值錨定在1美元。下列將闡述MIC高於1美元以及MIC低於1美元時的情況:

MIC高於1美元

當MIC高於1美元時,稱作擴展階段,我們可以用MIC以1:1的比率贖回MIB,進而使MIC的需求增加。因此,我們需要鑄造出新的MIC代幣,而這些代幣接著會分配給MIS的持有者。

MIC低於1美元

當MIC低於1美元時,稱作收縮階段,用戶可以享有折扣買MIB,目的在於穩定MIC的價格,並期待未來能在MIC高於1美元時贖回MIC,獲得利潤。

如何獲取分配獲利?

步驟一:獲得MIC

1.前往官網 MITH Cash

2.選擇一種穩定幣池 (DAI, USDT, USDC, BUSD, sUSD, ESD, BAC, FRAX,MITH, YFI, SUSHI, CREAM, COMP, AAVE, CRV, LINK)

步驟二:獲得MIS

這一步驟中,關鍵就是向Sushiswap 提供價格流動性以獲得MIS的獎勵。

MITH Cash有什麼樣的風險?

了解MITH Cash的運作機制之後,在參與前要注意下列幾點,以降低投資風險:

1.擴展與收縮階段

了解什麼時候是擴展和收縮階段,因MIB僅在擴張階段,也就是MIC高於1美元時,才能贖回MIC。

2. 交易手續費

每一次質押需要ETH交易手續費,確保提供代幣兌換時的總量與手續費的多寡。

3. 隨時更新MITH Cash的資訊

加入Discord, Twitter 和Telegram隨時更新資訊,以了解MITH Cash的最新情況,降低未知的風險。

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