UXP insurance fund, how does it work in practice

[acamill]

Would that be deposited on a mango account to prevent liquidation due to negative funding rate?
If so we need to add some "admin" instructions to the program

[acamill]

@SoteriaKento so this one will be that before releasing the mainnet we will fund each depository's mango account with a insurance amount (one depository per mint).

Sounds good? Any more advanced mechanism or better way to tracks what's up

[acamill]

Before release we should plan to have a backoffice that displays the current amouns of fund/insurance of each depository, total uxd out, uxd value vs collateral value in all depositories. Would that be hard to whip @ThomasProust @ywvlfy ?

I think that would make us feel safer and more informed. All the info is there on chain from a few accounts.

[sjillen]

Don't think it would be that hard. It just needs one of us to focus on that for a few days

[acamill]

Don't think it would be that hard. It just needs one of us to focus on that for a few days

Please get that rolling asap and make someone the owner of it

[acamill]

• for UXD mainnet we will need to add new instructions to the program to deposit/withdraw insurance, and to keep the value of the insurance + accrued yield from auto lending in the program state.

A tight accounting will allow us to know what's going on and how much leeway we have. This informations will also be able to be reflect in the backoffice dashboard