Bond Your MINT (🍭,🍭)
Bonds allow users to buy $MINT from the protocol at a discount by trading it with i) liquidity (LP tokens) or ii) other assets. The former is called liquidity bonds and the latter reserve bonds.
Bonds take roughly 15 epochs to vest, and $MINT tokens are vested linearly to the user over that period. Liquidity bonding helps the protocol to accumulate and lock liquidity, while reserve bonding allow the protocol to grow its treasury, and thus its backing per $MINT faster.
Settings
The Settings allow you to bond $MINT while sending the acquired $MINT to another address. This is useful for additional privacy, or for bonding multiple $MINT while the current bonds are still vesting. Note that if the same account holds multiple bonds, the pending rewards from the earlier bonds have to be forfeited. Note: What this means in practice, is that if a user has vested rewards from a previous bonding action purchase, and he then bonds another $MINT, the 5 days timer is reset for all the rewards, and the vesting period will start again.
Go to Bond page and select the assets you want to use to bond $MINT.
Select the amount that you would like to bond, then click on the cogwheel icon at the top right of the page.
The Settings menu will show up. At the Recipient Address field, you can specify a different address that will receive the vested $MINT. By default, it is filled with your current address.
You can also modify the Slippage field to increase or decrease the likelihood of your order getting through. A higher slippage increases that likelihood, but you may get a more undesirable fill price.
Close the Settings menu by clicking the cross icon.
Click "Approve" and sign the transaction.
After the "Approve" transaction has been processed successfully, click "Bond" and sign the transaction. Voila, you have bonded your first $MINT tokens using the Settings!
Notes:
The "Approve" transaction is only needed when bonding for the first time; subsequent bonding only requires you to perform the "bond" transaction.
When using Settings, do not alter the bond amount after you have closed the Settings menu, as it will reset the recipient address.
How to Redeem
Go to the Bond page and select the bond type you have purchased. Select the "Redeem" tab.
Use the Claim to claim all of your available rewards, and have the pending $MINT sent to your wallet.
Use the Claim and Autostake button to have all the available $MINT sent automatically to the staking contract and receive the $sMINT as a receipt for your stake!
Understanding the Info
Bond Page:
Bond Price is the price of $MINT you get from bonding. You can calculate the bond price using the following formula: - LP Bond: (Value of your LP token / $MINT you'll get from bonding) - MIM Bond: (Value of your MIM token / $MINT you'll get from bonding)
$MINT Price is the market price of $MINT.
Your Balance is your balance of LP tokens or asset used to bond.
You Will Get tells you how many $MINT tokens you will get from bonding.
Max You Can Buy maximum amount of $MINT available to be bought.
Debt Ratio measures the total amount of $MINT created from bonds that have yet to be paid out by the protocol. The debt ratio is calculated differently for LP bonds and MIM bonds: - LP Bond: ($MINT created from unredeemed bonds / $MINT total supply) - MIM Bond: ($MINT created from unredeemed bonds / $MINT circulating supply)
Vesting Term measures the period a bonding action takes to fully redeem. This number is expressed in days.
Minimum Purchase: Minimum amount of $MINT that can be bonded.
Redeem Page.
Time Until Fully Vested time until the $MINT bonded will be fully redeemable
Pending Rewards is the amount of $MINT you are entitled to receive from bonding.
Claimable Rewards is the amount of $MINT that you can claim now. This amount keeps increasing as $MINT is vested to you over the vesting period.
ROI is the Return On Investment
Vesting Term measures the period a Bonding action takes to fully redeem. This number is expressed in days.
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