1. pick a deposit token
2. pick the decider's pubkey
3. pick the mint term end slot
4. pick the decide term end slot, must be after 3

Each deposit token can mint one Pass and one Fail token up to the mint term end slot. After the decide term end slot the Pass token converts 1:1 with the deposit token if and only if the decider had set pass before the end of the decide term, otherwise the Fail token converts 1:1 with the deposit token.

The repository README contains information about program audits.