Mint & Redeem

P10 can be minted and redeemed directly against its on-chain Net Asset Value (NAV). Transparent pricing. Protected execution. Always non-custodial.

TL;DR

• Mint → deposit assets → receive P10

• Redeem → return P10 → receive assets

• Pricing → based on NAV

• Fees → 0.10% mint / 0.10% redeem

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The Price (NAV)

P10 is priced using:

NAV = Σ (wᵢ × Pᵢ)

Where:

• wᵢ = asset weight

• Pᵢ = oracle price

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👉 This ensures:

• fair valuation

• transparent pricing

• no hidden adjustments

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Two Ways to Use P10

1. Simple Mode (Single Asset)

Best for most users.

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Mint

You deposit:

• BNB / USDT / USDC / XPGN

The protocol:

• routes via the execution layer

• acquires the basket

• mints P10

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Redeem

You choose:

• a single asset → automatically routed

• the full basket → received directly

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Benefits

• simplified experience

• automatic routing

• efficient execution

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👉 Most users will use this mode.

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2. Pro Mode (Basket In / Out)

Best for:

• funds

• advanced users

• large allocations

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Mint

• supply the exact basket

• receive P10

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Redeem

• burn P10

• receive the full basket

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Benefits

• no routing costs

• minimal slippage

• precise NAV tracking

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👉 Designed for size and efficiency.

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How Mint Works

Step 1 — Quote

• NAV is calculated via oracles

• expected output is shown

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Step 2 — Guard Setup

• minimum output derived

• safety buffer applied

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Step 3 — Execution

• routing is optimized

• execution conditions validated

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Step 4 — Settlement

• P10 is minted and delivered

• any execution improvements are handled separately

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How Redeem Works

Basket Mode

• receive underlying assets directly

• no routing required

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Single Asset Mode

• routing into a chosen asset

• execution validated before settlement

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👉 All flows enforce minimum output protection.

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Fees

• Mint: 0.10%

• Redeem: 0.10%

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👉 Fees are fixed and transparent.

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Execution Improvements

If routing results in better execution than expected, additional value may be returned to the user.

📌 See Surplus & Rebates for full details.

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Safety Guards

Before execution:

• oracle freshness checks

• deviation validation

• TWAP cross-checks

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If validation fails:

• minting is paused

• redemption remains available

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👉 User exit is always prioritized.

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Limits

• per-transaction mint caps

• daily mint limits

• minimum size requirements

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👉 Designed to prevent:

• manipulation

• abuse

• instability

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Testnet vs Mainnet

Testnet (Current)

• synthetic tracking

• controlled deviation (~±3%)

• full execution flow enabled

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Mainnet

P10 is designed to operate using a basket-backed model:

• real underlying assets

• permissionless mint and redeem

• transparent on-chain tracking

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👉 Alternative structures may be introduced via governance if required.

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Why Price Stays Close to NAV

Arbitrage maintains alignment:

• If P10 > NAV → mint → sell

• If P10 < NAV → buy → redeem

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👉 This keeps market price close to NAV.

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What You’ll See in the UI

• NAV price

• minimum received

• validation status

• execution details

• simple vs pro mode toggle

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⚠️ Important Notes

• P10 excludes stablecoins

• composition updates periodically

• minting may pause if unsafe

• redemption remains available

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Summary

• mint and redeem at NAV

• choose simple or advanced mode

• protected by oracle validation

• optimized through execution routing

P10 provides transparent, on-chain mint and redeem flows designed for both ease of use and precise capital deployment.