tToken

tToken is the currency issued by the tToken contract, provided to users as an asset certificate when they deposit underlying assets.

The tToken exchange rate is calculated as follows:

$$tToken exchangeRate=(totalCash+totalBorrow−totalReserves)/totalSupply$$

Where:

• totalSupply represents the total quantity of all tA coins issued.

• totalCash denotes the total value of A coins deposited into the market and not borrowed.

• totalBorrowtotalBorrow indicates the total amount of A coins borrowed from the market.

• totalReservestotalReserves refers to the fees for tToken.