Whales can deposit into Indentura pools via the Indentura pool strategy pages. Whales must be whitelisted before being able to deposit.
Whales must be whitelisted for a pool before depositing. Whales submit a whitelisting request via the Indentura app after reviewing and agreeing to the pool agreement. Whales are also invited to the DAO governance forum for the pool, which enables their ongoing oversight of pool parameters. Once whales complete all their approvals and pass the Indentura platform checks,they can deposit into the pool.
Whales deposit via the Indentura app by connecting their wallet to the pool’s blockchain network and inputing the amount of funding token they wish to deposit. Whales receive LP token shares which represent their position in the pool in exchange for depositing funding tokens to the pool. Upon deposit submission on the app, funding tokens are transferred from the whale’s wallet to the applicable Indentura pool vault contract. At this time, the LP token shares are also transferred to the applicable Indentura pool vault contract. The number of LP token shares transferred is based on the exchange rate between the funding tokens and LP tokens. Whales can view these deposits in the My Pool Holdings part of the app under pending deposits.
Deposits remain pending during the Locking Period, a configured timeframe for each pool. After the Locking Period, agents can either approve or reject the deposit. Approving the deposit releases the LP tokens and transfers them to the applicable whale wallet. Rejecting the deposit burns the LP tokens and refunds the deposit back to the whale wallet. Agents may reject deposits if there is an issue with the rate calculation due to issue with pool value calculation.
The current value of the pool is 10,000 USDC. There are 8,000 LP Token shares outstanding. The exchange rate is 1.25 USDC per LP Token Share. A whale initiates a deposit of 1,000 USDC via the Indentura app. That whale’s 1,000 USDC is transferred from the whale’s wallet to the Indentura vault smart contract, and 800 LP Token shares (calculated by dividing 1,000 USDC by the 1.25 exchange rate) are minted by the Indentura vault smart contract. The Locking Period is 48 hours. After 48 hours, the agent reviews and approves the deposit and the 800 LP shares are transferred by the Indentura vault smart contract to the whale’s wallet. The exchange rate remains at 1.25 USDC per LP Token Share (11,000 USDC divided by 8,800 LP Token shares outstanding).