Discount Offer

'Discount offer' is a mechanism that is only activated in Adjustment Mode. In this mechanism, users can purchase margin tokens like xiBGT using ZUSD, and when AAR is lower than AART, the discount for purchases gradually increases over time. It is a Dutch auction-based exchange.

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Let's take the xiBGT discount offer as an example:

• In the Adjustment Mode, when AAR is between 101% and AART, the formula for trading xiBGT with ZUSD is:

$\Delta xiBGT = \frac{\Delta ZUSD \times M_{xiBGT}}{M_{iBGT} \times P_{iBGT} - M_{ZUSD}} \times (1 + r)$

Where ( r ) is the compensation coefficient, which gradually increases over time.

Additionally, to prevent extreme volatility risks, when the AAR falls below 110%, the 'Discount offer' will be paused for half an hour, and it will resume after one hour.

• When AAR falls below 101%, the formula for trading xiBGT with ZUSD changes to:

$\Delta xiBGT = \frac{\Delta ZUSD \times M_{xiBGT} \times 100}{M_{ZUSD}}$

• When AAR rises over AART, it enters Stability Mode, and the discount offer ends.