⚙️xBASE
xBASE Mechanism
Converting BASE to xBASE can be done at any time at a rate of 1:1.
To receive rewards with xBASE you need to stake it in the vaults.
When users want the BASE they locked they have to vest (convert) their xBASE. The rate of redemption of xBASE to BASE is directly tied to the duration selected by the user, with the tokens not converted for the user being burned at a rate of 100%.
The minimum vesting period, 7 days, translates to a ratio of 1:0.5 , meaning in 7 days you get 50% of the xBASE you vested into BASE ;
The maximum vesting period amounts to 30 days and provides full redemption of the tokens into BASE.
xBASE/BASE CLP (v3 pool) can be used to buy xBASE at a lower price than BASE direct conversion! Also allows for arbitrage opportunities by buying lower than 1:0.5 and converting in a week! https://swapbased.finance/#/swap/v3/?currency0=0xeF94C12Ba5Bb2bF56E19BABfa56880487FEA6E82¤cy1=0xd07379a755A8f11B57610154861D694b2A0f615a
This option also provides with a multiplier in Staking since with 1 BASE you can get from 1.4-2.2 xBASE. So when staking the xBASE effectively your position has a 1.4-2.2x multiplier. Liquidity to buy xBASE on v3 isn't always available as it's seeded by users.
OTC Mechanism
If the user wants to convert his xBASE into BASE instantly we also now offer this solution at a rate of 1:0.35! Meaning for each 100 xBASE you convert using the OTC Swap, you'll get 35 BASE.
Users can check active vests and other COIN+oCOIN analytics on the Dune dashboard below.
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