Fixed Rate Tokens are always minted in pairs with Fixed Rate Debt Tokens. Specifically, when users mint one Fixed Rate Token, they simultaneously mint a corresponding unit of Fixed Rate Debt. This ensures that all zero coupon bond assets can be offset by an equivalent amount of debts. Consequently, when a user mints a set of Fixed Rate Tokens and Fixed Rate Debts, the overall effect on the value of the user's account is null, as they offset each other. The supply of Fixed Rate Tokens and Fixed Rate Debt Tokens in the protocol should always equal zero.
Fixed Rate Tokens represent the asset side of the zero coupon bond like instruments minted by the protocol. Conversely, Fixed Rate Debts represent the debt side of the zero coupon bond like instruments minted by the protocol. Holders of Fixed Rate Debts must repay 1 unit of loan token (ex: USDC) for each Fixed Rate Debt token they hold at maturity.
Fixed Rate Tokens
Fixed Rate Tokens represent the asset side of the zero coupon bond like instruments minted by the protocol. Holders of Fixed Rate Tokens are entitled to 1 unit of loan token (ex: USDC) for each Fixed Rate Token they hold at maturity.
Fixed Rate Debts
Fixed Rate Debts represent the debt side of the zero coupon bond like instruments minted by the protocol. Holders of Fixed Rate Debts need to repay 1 unit of loan token (ex: USDC) for each Fixed Rate Debt token they hold at maturity.
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