Conversion - Redeeming

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

SCRIBE > xSCRIBE conversion

SCRIBE can be freely converted into xSCRIBE at any time. The process is instant, and the ratio is 1:1.

Get xSCRIBE

xSCRIBE > SCRIBE redeem

The redemption process to convert xSCRIBE to SCRIBE 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 SCRIBE is burned

Cancel redeem

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

Any cancelled redeem before its end will void the whole process. User will retrieve its entire amount of redeeming xSCRIBE, and no SCRIBE.