Conversion - Redeeming
Last updated
Last updated
GRAIL and xGRAIL are mutually convertible into each other, but the process is different depending on the direction.
GRAIL can be freely converted into xGRAIL at any time. The process is instant, and the ratio is 1:1.
The redemption process to convert xGRAIL to GRAIL implies vesting, the duration of which is selected by the user. The conversion ratio will increase proportionally with the vesting duration:
The minimum vesting duration of 15 days will provide a 1:0.5 ratio
The maximum vesting duration of 6 months will provide a 1:1 ratio
If the selected vesting duration is lower than the maximum (ratio < 1:1), the unclaimed excess GRAIL is burned
While being redeemed, the xGRAIL is automatically allocated to the yield staking plugin, but only for 50% of its value.
For instance, if a user was to redeem 1000 xGRAIL, he would earn staking rewards as if he actually allocated 500 of them to the real yield staking plugin.
Any xGRAIL redeeming process can be freely interrupted at any time by the user.
Any cancelled redeem before its end will void the whole process. User will retrieve its entire amount of redeeming xGRAIL, and no GRAIL.