> For the complete documentation index, see [llms.txt](https://texo.gitbook.io/exoniumdex/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://texo.gitbook.io/exoniumdex/synthetic-infrastructure/participants.md).

# Participants

**Within our synthetic assets protocol, users will partake in different roles such as-**&#x20;

#### **-Trader**

A trader engages in buying and selling tASSET against tDOLLAR through ExoniumDEX AMM and benefits from price exposure via tASSET.

#### **-Minter**

A minter is a user that enters into a collateralized debt position (CDP) in order to obtain newly minted tokens of an tASSET. CDPs can accept collateral in either tDOLLAR or tASSET, and must maintain a collateral ratio above the tASSET's minimum (set by governance). Therefore, minters effectively take a short position against the reflected asset's price direction, and take a neutral position when collateralizing the position in tDOLLAR or a long position when collateralizing in another tASSET.

Collateral can be withdrawn as long as the CDP's collateral ratio remains above the minimum. Minters can adjust the CDP's collateral ratio by burning tASSET or depositing more collateral.

#### **-Liquidity Provider**

A liquidity provider adds equal amounts of an tASSET and tDOLLAR to the corresponding ExoniumDEX AMM pool, which increases liquidity for that market. This process rewards the liquidity provider newly minted LP tokens, which represent the liquidity provider's share in the pool and also provide rewards from the pool's trading fees. LP tokens can be burned to reclaim the share of tASSET and  tDOLLAR from the pool.

#### **-Staker**

A staker acts as a user that stakes LP Tokens or just tEXO in order to earn ExoniumDEX governance and yield token, tEXO. Stakers are incentivized for being part of the ExoniumDEX ecosystem and encourage perpetual support to the development of the platform.&#x20;

A staker is a user that stakes either LP Tokens (with the Staking contract) or tEXO tokens (with the Gov contract) in order to earn staking rewards as tEXO tokens. Whereas LP token stakers earn rewards from new tEXO tokens from inflation, tEXO tokens earn staking rewards from CDP withdrawal fees.

If the user has staked tEXO tokens, they are eligible to participate in governance and receive voting power weighted by the amount of their total staked tEXO. Governance is the process through which new tASSET gets whitelisted and protocol parameters can be altered.

LP Tokens can be unstaked at any time, but tEXO tokens can only be unstaked when they are not used to represent a vote on a pending governance poll.

#### **-Oracle Feeder**

An oracle feeder is responsible for providing an accurate and up-to-date price feed for a specific tASSET and is the sole party that is permitted to update the registered reported price of the reflected asset. <br>


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