BOND Assets
Description of Polaris Finance BOND tokens.
Last updated
Description of Polaris Finance BOND tokens.
Last updated
$POLAR Bonds ($PBOND) main job is to help incentivize changes in $POLAR supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of $POLAR falls below 1 $NEAR, PBONDs are issued and can be bought with $POLAR at the current price. Exchanging $POLAR for $PBOND burns $POLAR tokens, taking them out of circulation (deflation) and helping to get the price back up to 1 $NEAR. These $PBOND can be redeemed for $POLAR when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for $POLAR when it is above peg, helping to push it back toward 1 $NEAR.
Contrary to early algorithmic protocols, $PBOND's do not have expiration dates.
All holders are able to redeem their $PBOND's for $POLAR tokens as long as the Treasury has a positive $POLAR balance, which typically happens when the protocol is in epoch expansion periods.
$ETHERNAL Bonds ($EBOND) main job is to help incentivize changes in $ETHERNAL supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of $ETHERNAL falls below 1 $ETHERNAL, $EBONDs are issued and can be bought with $ETHERNAL at the current price. Exchanging $ETHERNAL for $EBOND burns $ETHERNAL tokens, taking them out of circulation (deflation) and helping to get the price back up to 1 $ETH. These $EBOND can be redeemed for $ETHERNAL when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for $ETHERNAL when it is above peg, helping to push it back toward 1 $ETH.
Contrary to early algorithmic protocols, $EBOND's do not have expiration dates.
All holders are able to redeem their $EBOND's for $ETHERNAL tokens as long as the Treasury has a positive $ETHERNAL balance, which typically happens when the protocol is in epoch expansion periods.
$TRIPOLAR Bonds ($TRIBOND) main job is to help incentivize changes in $TRIPOLAR supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of $TRIPOLAR falls below 1 $xTRI, $TRIBONDs are issued and can be bought with $TRIPOLAR at the current price. Exchanging $TRIPOLAR for $TRIBOND burns $TRIPOLAR tokens, taking them out of circulation (deflation) and helping to get the price back up to 1 $xTRI. These $TRIBOND can be redeemed for $TRIPOLAR when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for $TRIPOLAR when it is above peg, helping to push it back toward 1 $xTRI.
Contrary to early algorithmic protocols, $TRIBOND's do not have expiration dates.
All holders are able to redeem their $TRIBOND's for $TRIPOLAR tokens as long as the Treasury has a positive $TRIPOLAR balance, which typically happens when the protocol is in epoch expansion periods.
