Conversion - Redeeming

IGN and xIGN are mutually convertible into each other, but the process is different depending on the direction.

IGN > xIGN conversion

IGN can be freely converted into xIGN any time. The process is instant, and the ratio is 1:1.

xIGN > IGN redeem

The redeem process to convert xIGN to IGN implies vesting, the duration of which is selected by the user. The conversion ratio will increase proportionally with the vesting duration:

  • The minimum vesting duration of 15 days will provide a 1:0.5 ratio

  • The maximum vesting duration of 6 months will provide a 1:1 ratio

If the selected vesting duration is lower than the maximum (ratio < 1:1), the unclaimed excess IGN is burned.

Dividends allocation

While being redeemed, the xIGN is automatically allocated to the dividends plugin, but only for 50% of its value.

For instance if a user was to redeem 1000 xIGN, he will earn dividends as if he actually allocated 500 of them to the Dividends plugin.

This allocation is automatically canceled once the vesting duration has ended.

Cancel redeem

Any xIGN redeeming process can be freely interrupted at any time by the user.

Any canceled redeem before its end will void the whole process. User will retrieve its entire amount of redeeming xIGN, and no IGN.

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