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Copy file name to clipboardExpand all lines: docs/fassets/3-minting.mdx
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@@ -15,9 +15,11 @@ This is the summary of the minting process:
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The choice is based on the minting fee or the amount of free collateral, which must be enough to back the amount to be minted.
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2. The minter sends to the Asset Manager contract a collateral reservation transaction (CRT). The CRT includes:
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- The address of the chosen agent
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- The amount to mint, which must be a whole number of [lots](/fassets/minting#lots)
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- The [collateral reservation fee (CRF)](#fees) to compensate for the locked collateral
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- The address of the chosen agent.
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- The amount to mint, which must be a whole number of [lots](/fassets/minting#lots).
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- The [collateral reservation fee (CRF)](#fees) to compensate for the locked collateral.
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- The executor's address, if the minter is not the executor.
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- The executor's fee, if the minter is not the executor.
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3. The Asset Manager contract locks the agent's collateral in the amount needed to back the whole minting until the underlying payment is proved or disproved.
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The collateral reservation response is an event issued by the contract, which includes:
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- The payment reference, which is a unique 32-byte number the minter must include as a memo in the payment on the underlying chain.
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- The last underlying block and the last underlying timestamp to pay.
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Valid payments occur either before the last block or before the last timestamp, both inclusive.
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- The executor's address, if the minter is not the executor.
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- The executor's fee, if the minter is not the executor.
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The time to pay is measured both in the underlying chain's block numbers and block times because the underlying chain might halt for a long time.
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In this situation, the block numbers do not increment but the block timestamps do.
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4. After this event is emitted, the minter must pay the full underlying amount plus the fee to the agent on the underlying chain in a certain amount of time.
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5. Using the Data Connector, the minter proves the payment on Flare.
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6. After the payment is proved, the minter executes the minting process, which sends FAssets to the minter's account.
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5. Using the Data Connector, the minter or executor proves the payment on Flare.
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6. After the payment is proved, the minter or executor executes the minting process, which sends FAssets to the minter's account.
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When minting is executed, the [minting fee](#fees) is split between the agent and the pool:
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After minting is complete, the Asset Manager creates a [redemption ticket](#redemption-tickets-and-the-redemption-queue), which includes the mint amount and the name of the agent backing the minting.
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### Executor Role
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The execution of the minting process can be performed by an **executor**, an external actor such as a bot or service that monitors pending minting requests.
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Executors are incentivized to act quickly and correctly, but they hold no special permissions.
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If they fail to execute in time, the request may expire, and the minting must be restarted.
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The executor:
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- Is nominated by the minter and gets paid by the minter.
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- Uses the Flare Data Connector to obtain valid payment proof.
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- Executes the minting with a valid payment proof.
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