Conversion & Redemption

MONO and xMONO are mutually convertible into each other, but the process is different depending on the direction.

MONO > xMONO conversion

MONO can be freely converted into xMONO at any time. The process is instant, and the ratio is 1:1.

xMONO > MONO redeem

The redemption process to convert xMONO to MONO 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 MONO is burned

Dividends Allocation

While being redeemed, the xMONO is automatically allocated to the dividends extra, but only for 50% of its value.

For instance, if a user was to redeem 1000 xMONO, he would earn dividends as if he actually allocated 500 of them to the Dividends extra.

This allocation is automatically canceled once the vesting duration has ended.

Cancel Redeem

Any xMONO redeeming process can be freely interrupted at any time by the user.

Any canceled redemption before its end will void the whole process. The user will retrieve the entire amount of redeeming xMONO, and no MONO.

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