Binding Machine Program

The Binding Machine Program is the core of Xitadel, managing the minting, burning, and lifecycle of LTT, including liquidation and repayment, ensuring seamless LTT operations.

Minting and Burning Xitadel LTTs

The Binding Machine Program handles the minting of Liquid Treasury Tokens (LTTs) when collateral is verified and approved by the LTT Management Cluster. It also manages the burning of LTTs when holders trigger liquidation or upon maturity. This ensures that the LTT supply accurately reflects all issued positions and their current status.

Lifecycle Management of LTTs

The program oversees every stage of the LTT lifecycle. From issuance to repayment, it interacts with the LTT Management Cluster to monitor collateral, handle liquidation requests, and ensure smooth redemption of principal and interest at maturity. Its close integration with the cluster guarantees that each LTT’s status is consistently up-to-date and secure.

Collaboration with the Keeper Bot and LTT Moderator System

The Binding Machine Program works directly with the Keeper Bot and LTT Management Cluster to execute critical functions such as monitoring collateral ratios, initiating liquidations, and handling repayments. Together, these components ensure that Xitadel’s LTTs remain secure, transparent, and operational throughout their lifecycle.