The Redemption Process
XAI and esXAI are separate tokens. Upon the completion of a redemption process, one token will be burned and it's counterpart minted.
Redeeming XAI for esXAI
XAI may be redeemed for esXAI at any time without penalty or restriction. The ratio of conversion is always 1:1 (100%) and there is no unlock period.
Redeeming esXAI for XAI
The redeem process to convert esXAI to XAI includes an unlock period, the duration of which is selected by the user. The conversion ratio will increase proportionally with the redemption duration:
The minimum redemption duration of 15 days will provide a 1:0.25 ratio (25%).
The remaining 75% of esXAI will be burned upon claim of the redemption.
The middle redemption duration of 90 days will provide a 1:0.625 ratio (62.5%).
The remaining 37.5% of esXAI will be burned upon claim of the redemption.
The maximum redemption duration of 180 days will provide a 1:1 ratio (100%).
Any esXAI redeeming process can be freely canceled at any time by the user, including after the unlock period is over if the redemption has not been claimed.
Any canceled redeem before its end will void the whole process. Users will retrieve their entire amount of esXAI, and no XAI. If users initiate another redemption they will have to start the unlock period anew.
The Xai foundation may reserve up to 50% of would-be burned esXAI from the 15 and 90 day redemptions to the Xai foundation to support the Network.
Review the roadmap to see when this functionality is available.
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