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Forged Assets
aka fAssets
Forged Assets are standard ERC-20 tokens. They can only be minted from the Ovens against a collateral deposit. All fAssets have 18 decimals.
Each asset has 3 variables:
- A data feed contract from Chainlink. It is used to calculate the current collateralization ratio (c-ratio) of an oven.
- A minimum c-ratio. It is not possible to mint more fAssets if an oven's c-ratio is below this minimum.
- A liquidable c-ratio. Anyone will be able to close an oven and earn a fee from ovens where the c-ratio is lower than the liquidable c-ratio.
This liquidation process makes sure that all fAssets are always over-collaterized, as any oven which is inside the [100%; liqCratio] range can get liquidated by anyone (including bots).
Last modified 6mo ago