Web Application
The Portal Side of the application is the user interface and on-chain financial layer for the TAO-Backed Stablecoin (TUSDT) system. It is deployed on an EVM-compatible network, which allows users to interact with the core stablecoin mechanics.
The Portal Side facilitates the two primary functions of the stablecoin protocol: minting TUSDT by depositing TAO collateral, and burning TUSDT to withdraw the TAO collateral.
Portal Side Description: Minting and Burning
The two screenshots illustrate the two-way bridge functionality of the Portal Side. The core components handling these operations are the Vault Manager Contract and the TUSDT Token Contract.
1. Minting TUSDT (Collateralization)
This process is initiated by selecting the "Deposit" tab, allowing a user to Deposit TAO (native) to Get TUSDT Stablecoin.
Source Chain
Bittensor (TAO). The user deposits TAO, the native token of the Bittensor network
Target Chain
EVM (TUSDT). The TUSDT stablecoin is minted on the EVM-compatible side.
Transaction
TAO → TUSDT (Minting TUSDT).
Core Concept
The user locks TAO as collateral via the TAO Bridge Infrastructure. The Vault Manager Contract validates the collateral and ensures the initial 200% over-collateralization ratio is met. The Vault Manager then mints the equivalent dollar value of TUSDT.
2. Burning TUSDT (Redemption/Withdrawal)
This process is initiated by selecting the "Withdraw" tab, allowing a user to Deposit TUSDT (Stablecoin) to Withdraw TAO (native).
Source Chain
EVM (TUSDT). The user deposits TUSDT to redeem their collateral.
Target Chain
Bittensor (TAO). The locked TAO collateral is returned to the user.
Transaction
TUSDT → TAO (Burning TUSDT).
Core Concept
The user returns TUSDT to the protocol. The Vault Manager Contract burns the TUSDT (reducing circulating supply) and, through the TAO Bridge Infrastructure, releases the corresponding amount of TAO collateral locked on the Subnet Side. The user may also incur stability fees managed by the Vault Manager.
Security Features
The Portal Side's Vault Manager and TUSDT Token contracts incorporate critical security features:
Pausable and Upgradeable Proxies: The TUSDT Token Contract uses these patterns for enhanced security and future-proofing.
Circuit Breakers: The Vault Manager contains logic for emergency mechanisms, which can halt withdrawals during extreme price drops in TAO (e.g., a full shutdown after a 20% TAO drop).
Liquidation Logic: The Vault Manager manages the 150% liquidation threshold and triggers the robust, automated liquidation engine when this threshold is crossed.
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