xCLND
Token Overview
xCLND is created when CLND token is locked on the platform. It is an ERC-20 token used for voting on emission directions (ie. APYs) and earning bribes from Liquidity suppliers (aka Curators).
Key Features:
Voting Power: xCLND holders can vote on liquidity mining allocations.
Earnings: Holders earn interest from the market they vote for and receive bribes.
Interest Distribution: Interest is distributed proportionally to voters in each epoch.
Conversion Process:
Locking: CLND can be locked to create xCLND at a 1:1 ratio instantly.
Redemption: When converting xCLND back to CLND, a redemption period is selected. The conversion ratio improves over time, from 50% to 100% (after 3 months).
Flexible Unstaking: During the unstaking period, xCLND can still be used for voting and earning, but only at 50% value. The process can be canceled at any time, returning the xCLND without converting it to COLEND.
Conversion Ratios:
15 days
50%
30 days
66.7 %
45 days
75%
60 days
83.3%
90 days
100%
Example : Alex decides to stake 500 CLND tokens on the platform. After participating in voting and earning rewards, Alex wishes to retrieve their tokens after a 2-month unlocking period (60 days).
According to the conversion percentage table, the 2-month (60-day) period corresponds to a conversion rate of 83.3%. Alex will therefore retrieve 416.5 CLND in exchange for their 500 xCLND tokens.
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