Conversion

xDERP <> DERP conversion details

Conversion and redemption for DERP and xDERP are mutually convertible but the steps are different. Please see details below:

DERP > xDERP conversion

DERP can be freely converted to xDERP any time. The steps are instant and at 1:1 ratio

xDERP > DERP conversion

  • The redemption steps to convert xDERP to DERP implies vesting, the duration of which is selected by the token holder. The conversion rate will increase with the vesting duration:

    • Minimum vesting duration of 24 days will provide 0.42:1 ratio

    • Maximum vesting duration of 96 days will provide 1:1 ratio

  • IF the selected vesting duration is lower than the maximum ratio 1:1, the excess DERP will be sent to foundation reserve for future purpose; ie. liquidity on better CEX and more.

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