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snAssets

Users benefit from liquidation and automatic compounding by depositing native assets such as ATOM, OSMO, and JUNO through Supernova.

The only thing the user should do is make just two transactions:

  1. Do IBC transfer from some chain to Supernova (Assets ➡️ snAssets)
  2. Deposit wrapped-assets (wAssets)
  3. Claim supernova-staked-assets (snAssets)

Then the users will be given snAssets. For example, the user will be given snATOMs as proof that he staked ATOMs via Supernova.

See the Supernova Terminology for more information.

Value of snAsset​

snAsset represents shares of total deposited Assets. That is:

  • Staking rewards (Block rewards)
  • Transaction fees
  • Compound interest

and also can include

  • MEV rewards

In short, the value of snAsset is determined by the following equation:

1 snAsset = (total Asset staked + tx fees + compound interest + block rewards + MEV rewards) / (total snAsset supply)

Decimals​

The decimal of snAssets is always 1818 for easy use at DeFi. However, the wrapped-assets' decimal has a dependency on the original asset. For example:

Cosmos Hub      |    Supernova              
                |                                        
+----------+    |    +-----------+          +-----------+
|   ATOM   | ------> |   wATOM   | -------> |  snAsset  |
+----------+    |    +-----------+          +-----------+
                |                                        
decimals: 6     |    decimals: 6            decimals: 18