> For the complete documentation index, see [llms.txt](https://sypool-protocol.gitbook.io/welcome-to-sypool/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://sypool-protocol.gitbook.io/welcome-to-sypool/methodology/sap.md).

# SAP

## Launch SAP

When each SAP is created, the manager will deposit a certain amount of tokens (USDT, ETH, BTC, Sol, or this protocol’s governance token SYP) and decide how many SAP tokens are minted and returned to the manager. Therefore, the current value of each SAP token is determined. And new SAP tokens could be minted based on that value.

Meanwhile, a whitelist of tokens allowable for trading is determined by the manager. Any changes about the list have to be voted by the SAP token holders and audited by the foundation.

## Mint SAP

![](/files/nJ2iUNYIIOhNDWFm4hkw)

Current total value of one SAP pool in USDT can be got at any time through feeding price by the oracle. The amount of (USDT, BTC, ETH, SOL or governance token SYP) needed to mint a new SAP at current time can be got by dividing the total value by the current number of SAP tokens. We will also reward governance token SYP to users who mint SAP in the early stage to repay their early support.

{% hint style="info" %}
We will charge management fees and use them to buy back SYP in the market and burn it.
{% endhint %}

## Burn SAP

![](/files/y8la4OYSnUN15VXnEZop)

The process of burning SAP tokens is just the opposite of minting. Users can exchange their SAP tokens into chosen tokens (USDT, BTC, ETH, SOL or governance token SYP) at any time. The amount is also determined by the total value of the SAP pool at current time and the total number of SAP tokens.

## Oracle

Oracle is used to feed price for the protocol as it does for those lending protocols.

Besides minting and burning, price-feeding is also useful in the presentation of the live prices of each SAP pool on the website dashboard. At first, they are only priced in USDT. Pricing in ETH and pricing in BTC will be launched later.


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