<aside> ⚠️ Each vsBond represents the redemption time of a parachain, but vsBond itself has an Expired period of 84 days on Kusama side and 168 days on Polkadot side.

So don't wait the vsBond to expire and redeem when the announcement is made in our channels!

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In order to prevent vsBond from being maliciously hoarded, some kind of vsBond may have a single point of control risk, which will adversely affect normal exchange. Therefore, SALP sets an 84-day (Kusama) & 168-day (Polkadot) redemption period for vsBond at the protocol design level, and expired vsBond cannot participate in the redemption, thereby eliminating the motive for malicious hoarding of vsBond.

How to use the expired vsBond?

For the expired vsBond, the Redeem and Order functions are closed. However, users can still use the "Convert" feature to convert expired vsBonds to vsTokens to minimize losses.

1. Enter app.bifrost.io and click "Bond" under "Explore more" in the main navigation menu on the left

Explore more menu

1. Switch to the "Convert" page by click on the Convert tab on the top

Bond Market - Convert feature

1. Select the Expired vsBond you may have in the list by clicking in the dropdown list

vsBond with their corresponding conversion rate

1. Input the amount of vsBond to redeem, click on the "Convert" button and sign the transaction.

Your vsBond will be converted into vsTokens (vsDOT or vsKSM) based on the expired Bond ratio once confirmed.

How much do you lose for an expired vsBond?

If you have 1 vsDOT + 1 vsBond in your wallet, and the vsBond has expired. The redemption steps are:

1. Convert expired vsBond into vsDOT: the conversion rate is fixed at 1 vsBond : 0.9 vsDOT (refer to the Convert rate matrix in the previous section)

I.e: 1 vsBond is converted into 0.9 vsDOT