Minting
At the start of each Season, Pinto deterministically mints new Pinto and distributes them to farmers. Minting Pinto serves two purposes: incentivizing timekeeping and target maintenance price.
Pinto are minted to incentivize timekeeping as a function of how long after the earliest time the gm function could be called to begin the next Season. For more information on how many Pinto are minted to incentivize the gm function call, see the Pinto whitepaper.
Pinto are minted to facilitate peg maintenance as a function of the TWA∆P, the time weighted average shortage or excess of Pinto across all liquidity pools on the Minting Whitelist over the previous Season. The newly minted Pinto are distributed deterministically along various Shipping Routes.
Current Minting Whitelist
PINTO:cbETH LP
PINTO:cbBTC LP
PINTO:USDC LP
Shipping Routes
Shipping Routes determine how Pinto mints based on TWA∆P are distributed to different components of the system. Mints for the gm reward and Flood are distributed independent of Shipping Routes.
If Pinto allocated to a particular Shipping Route exceed the maximum Pinto that Shipping Route can handle (i.e., there are no more Unharvestable Pods in the Field), the excess Pinto are distributed to the other Shipping Routes in proportion to their allocations. The Silo Shipping Route can handle an infinite number of Pinto mints per Season.
Pinto was deployed with an initial mint of 1000 Pinto. Thereafter, Pinto mints based on TWA∆P at the start of each Season are distributed as follows:
Between a supply of 1000 and 1 billion Pinto:
48.5% to Stalkholders in the Silo; and
3% to the Pinto development budget contract.
After a supply of 1 billion Pinto until old Beanstalk holders are recapitalized:
48.5% to Pods at the front of the Pod Line;
48.5% to Stalkholders in the Silo; and
3% to old Beanstalk holders.
After old Beanstalk holders are recapitalized:
50% to Pods at the front of the Pod Line; and
50% to Stalkholders in the Silo.
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