How to Bond
By bond MIM you're trading your crypto assets for discounted AVAXD.
The Bond page allows users to Bond $AVAXD from the protoco
l at a discount by trading it with i) liquidity (LP tokens) or ii) other assets. The former is called liquidity Bonding and the latter is reserve minting. The Bonding action creates bonds that take 5 days (15 epoch) to vest, and $AVAXD tokens are vested linearly to the user over that period. Liquidity minting helps the protocol to accumulate and lock liquidity, while reserve minting allows the protocol to grow its treasury, and thus the backing per $AVAXD faster. The Avax DAO currently offers Bonding via $MIM and $AVAXD-$MIM only, but we expect to add AVAX and other Bond assets soon.
Bonding $AVAXD
Go to the Bond page and select the assets you wish to use to Bond $AVAXD.
Enter the amount of the asset you'd like to use for Bonding.
Approve the website using your asset to Bond. You'll need to do so in your wallet when prompted.
After the "Approve" transaction has been processed successfully, click "Bond" and sign the transaction. Voila, you have Bonded your first $AVAXD tokens.
Note: The "Approve" transaction is only needed when Bonding for the first time; subsequent Bonding only requires you to perform the "Bond" transaction.
How to Redeem
Once you've Bonded $AVAXD you'll need to redeem it to stake it or sell it on a DEX.
Go to the Bond page and select the Bond type you have purchased.
Select the "Redeem" tab.
Use the Claim to claim all of your available rewards, and have the pending $AVAXD sent to your wallet, or use the Claim and Autostake button to have all the available $AVAXD sent automatically to the staking contract.
Reading the Info
Bond Price:
Bond Price is the price of $AVAXD you get from Bonding. You can calculate the Bond price using the following formulae: - LP Bond: (Value of your LP token / $AVAXD you'll get from Bonding) - MIM Bond: (Value of your MIM token / AVAXD you'll get from Bonding)
$AVAXD Price is the market price of $AVAXD.
Your Balance is your balance of LP tokens or assets used to Bond.
You Will Get tells you how many $AVAXD tokens you will get from Bonding.
Max, You can Buy the maximum amount of $AVAXD available to be bought.
The Debt Ratio measures the total amount of $AVAXD created from Bonds that have yet to be paid out by the protocol. The debt ratio is calculated differently for LP Bonds and MIM Bonds: - LP Bond: ($AVAXD created from unredeemed Bonds / $AVAXD total supply) - MIM Bond: ($AVAXD created from unredeemed Bonds / $AVAXD circulating supply)
Vesting Term measures the period a Bonding action takes to fully redeem. This number is expressed in days.
Minimum Purchase: Minimum amount of $AVAXD that can be Bonded
Redeem Page:
Time Until fully vested time until the $AVAXD Bonded will be fully redeemable
Pending Rewards is the amount of $AVAXD you are entitled to receive from Bonding.
Claimable Rewards is the amount of $AVAXD that you can claim now. This amount keeps increasing as $AVAXD is vested to you over the vesting period.
ROI is the Return On Investment
Vesting Term measures the period a Bonding action takes to fully redeem. This number is expressed in days.
Last updated