User Onboarding
Last updated
Last updated
To enable the ride, the admin calls the Pool Manager smart contract to mint and sell ride tickets.
When a user joins a Yield Generation Pool, they sign three different limit orders in advance. The DeFi Pooling Operator (Yield Generation Operator) stores these:
Limit order 1
Buy X ride tickets for X yield tokens.
As per (1) in the diagram, this will allow the User to generate returns from X yield tokens.
Limit order 2
In case the ride is cancelled, the user buys back X yield tokens by returning X ride tickets.
Limit order 3
In case the ride arrives at the destination, the user buys Y strategy tokens for X ride tickets. The ratio between Y and X is set according to the price and slippage parameters that were configured in the ride registration.
As per (2) in the diagram, this completes User's signed limit orders.
The admin activates the onboarding phase of the DeFi Pooling Operator (Yield Generation Operator). In this phase, it matches the user’s first limit order (to buy ride tickets) to the onchain limit order that is selling tickets. This order was submitted in advance by the Pool Manager smart contract in the registration phase.
As per (3) in the above diagram, the relevant orders are matched.
Multiple other users join the ride, where each may buy a different amount of uniformly-priced tickets.
