The Redemption Process

You can redeem between Xai and esXai in either direction. Depending on which direction your redemption is, different rules apply.

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%)

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 vesting duration:

• The minimum vesting duration of 15 days will provide a 1:0.25 ratio (25%)

• The middle vesting duration of 3 months will provide a 1:0.625 ratio (62.5%)

• The maximum vesting duration of 6 months will provide a 1:1 ratio (100%)

• If the selected vesting duration is lower than the maximum (ratio < 1:1), the penalty amount of esXai is burned.

• Any esXai redeeming process can be freely canceled at any time by the user.

• Any canceled redeem before its end will void the whole process. Users will retrieve their entire amount of esXai, and no Xai.

The Xai foundation may reserve up to 50% of would-be burned esXai to the Xai foundation to support the Network.

While esXai is being redeemed for Xai, all esXai is automatically allocated to the yield account, but only for 50% of its value.

Review the roadmap to see when this functionality is available.