Users can also use ETH to exchange for PAYD from the system. In this case, ETH that a user gives to the system is distributed to all the Caches. Since the Caches receive ETH, these Caches also have PAYD debt added onto their existing PAYD issued Debt. The Wallet user that does the Swap receives ETH to PAYD (at the prevailing ETH:USD rate, less E2P issuance fee, that is 0.5% and up) to their wallet.
Wallet #4 Swaps 3 ETH for PAYD.
Wallet #4 receives 7,500 PAYD (@ 2500 per ETH) less E2P issuance fees of 375.
Note: E2P issuance fees is 0.5% and up.
Caches (ETH) in ETH to PAYD Swap, Before and After Swap
ETC to PAYD swaps adds on ETH to all the Healthy Caches. In exchange for receiving ETH, each of these Cache’s positions also have PAYD added onto their existing Cache PAYD Issued debt.
Caches (PAYD) in ETH to PAYD Swap, Before and After Swap
PAYD debt is added onto each Cache’s PAYD Issued debt.
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