🔄Redeeming

xSHADOW > SHADOW redemption

Converting xSHADOW to SHADOW involves a user-selected vesting period that directly influences the conversion ratio. The longer the vesting, the more favorable the ratio:

• An immediate conversion incurs a 50% penalty, offering a 1:0.5 ratio.

• Opting for a full 6-month vesting period results in a 1:1 ratio, eliminating any penalty

Vesting can be cancelled only during the initial 14 day vesting period. xSHADOW is returned to a user upon cancellation of vesting. Once a minimum initial vesting period has elapsed, the vesting becomes permanent and a user may withdraw liquid SHADOW tokens subject to the haircut then applicable as determined based on the portion of the vesting period that has been completed. Upon completion of the maximum 180 day vesting length a user receives SHADOW tokens in proportion to their xSHADOW on a 1:1 basis.

These ratios can be subject to change as the protocol evolves, any changes will be expressed ahead of time.