Deposit

Adding collateral to an ICDP

This documentation is a work in progress!

Depositing collateral will increase your health factor.

In order to mint any Kopio Asset, account must have collateral value to back them. The value is gained by depositing any of the whitelisted Collateral Assets into the protocol.

This requires the user to give Approval for the protocol to transfer the tokens from the users wallet into the main protocol contract where they reside until the user withdraws them or gets liquidated.

Unlike in minting, burning or withdrawals - anyone can deposit collateral for another account. Note that this is equal to donation if you are not controlling the account receiving the collateral.

Each deposit will emit an event with relevant information

/**
 * @notice Emitted when an account deposits collateral.
 * @param account The address of the account depositing collateral.
 * @param collateralAsset The address of the collateral asset.
 * @param amount The amount of the collateral asset that was deposited.
 */
event CollateralDeposited(address indexed account, address indexed collateralAsset, uint256 indexed amount);

Conditions Preventing Depositing

Safety State: Pause

In an emergency situation the Safety Council multisig can pause the depositing of a Collateral Asset to prevent possible negative impact it would have.

Kopio Asset Minimum Collateral Amount

For Kopio Asset collaterals the minimum deposit amount is 1e12 or 0.000001. Accounts must have collateral deposits greater than this amount if the collateral asset is a Kopio Asset.