💸ateTokens

What are ateTokens?

When a user deposits into ATE Finance’s lending pool, they receive interest-bearing Tokens n the form of ateTokens (ie. ateUSDC, ateUSDT, ateBNB, etc). This token represents your share of the lending pool and is needed to redeem your funds. Each time a user supplies funds to the lending pool, they are issued a corresponding balance in ateTokens. This balance of the ateTokens is directly proportional to the stake they have in the lending pool, which accrues the interests earned. Each lending pool has its own ateToken, ie. if a user deposits into the USDC lending pool, they will receive ateUSDC.

ateTokens: ateBUSD ateUSDC ateUSDT ateWBNB ateETH ateBTCB

How does ateToken earn interest?

Lending vaults generate interest per block. The generated interest is accrued into the lending pool, there is no need to harvest rewards. Your ateTokens balance remains static while the value of the pool grows over time, this means your ateTokens will be worth more when you redeem them. The user does not need to do anything, they can simply hold and enjoy the interest generated. The implementation of ateTokens is similar to Compound's cToken. If you'd learn more please read Compound cToken.

Do I need to calculate ateToken exchange rate?

When ATE Finance is launched, the ateToken exchange ratio (ie. how many USDC one ateUSDC is worth) begins at 1:1.

Since the launch of margin trading and leveraged yield farming though, it continues to increase at a rate equal to the compounding market interest rate. This represents the accrual of the lending interest to lenders' tokens.

For instance, if the lending APY for a year was an average of 50%, the value of the ateToken at the end of the year would be about 1.5.

Each user has the same ateToken exchange rate,there’s nothing unique to your wallet that you have to worry about.