1. Assume a new USDC pool has been created. There are no tokens in the pool so pool value is 0 and 1 debt token is also equal to 0.
2. User A then deposits $1m USDC and mints 200,000,000 debt tokens. Thus the pool has a pool value equal to $1m. In the pool 1 debt token is worth $0.005.
3. Moments latter a second depositor, User B, invests $1,000 USDC to the pool. In return for they receive 200,000 debt tokens (1000 / 0.005). The pool value is now $1,001,000 and there is a total supply of 200,200,000 debt tokens. 1 debt token is worth $0.005.