Convert vsBond into vsToken

SALP introduces a mechanism for converting vsBond into vsToken.

The system pricing mechanism is used to set different conversion exchange rates according to different redemption periods to obtain a more accurate vsBond value, and realize the conversion of non-homogenized and non-equivalent vsBonds to fully homogenized vsTokens. It makes the circulation of vsBond smoother and meets the needs of users to quickly release full liquidity.

In order to facilitate the user's liquidity and value replacement, you can convert vsBond into vsToken through the "Convert" feature. The converted exchange rate is related to the bond's expiration time.

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 vsBond you may have in the list by clicking in the dropdown list

<aside> 💡 The purple circle on vsBond icon represents the remaining time to vsBond redemption.

</aside>

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 based on the Bond ratio once confirmed (vsDOT or vsKSM)

<aside> ⚠️ By doing so you drop the ability to redeem your contributed DOT (KSM) when the redemptions opens, it's very hard to get vsBond on the market

</aside>

Convert Rate Matrix

Swap vsToken