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Protocol Tokens

The Blend protocol represents all positions for a pool with tokens. This allows the pool to track interest fairly across multiple suppliers and borrowers for a given reserve. All protocol tokens are non-transferable, and are only an accounting method to safely represent positions.

When reading positions for an address via the get_positions(address: Address) function, the value returned is a Map of the reserve's index to the BToken or DToken balance.

bTokens

A bToken represents a supply made to a Blend pool. Each reserve has a unique bToken per pool, and they are non-transferable.

bTokens are converted to and from underlying assets with the reserve's bRate. The bRate is adjusted when interest is accrued.

bTokens=underlyingbRatebTokens = \frac{underlying}{bRate}bTokens=bRateunderlyingโ€‹
underlying=bRateโˆ—bRokensunderlying = bRate*bRokensunderlying=bRateโˆ—bRokens

dTokens

A dToken represents a liability against a Blend pool. Each reserve has a unique dToken per pool, and they are non-transferable.

dTokens are converted to and from underlying assets with the reserve's dRate. The dRate is adjusted when interest is accrued.

dTokens=underlyingdRatedTokens = \frac{underlying}{dRate}dTokens=dRateunderlyingโ€‹
underlying=dRateโˆ—dTokensunderlying = dRate*dTokensunderlying=dRateโˆ—dTokens
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Last updated 2 months ago

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