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Old Bonds Detail

These bonds are no longer live. This page is here for archival purposes.
Bonds take roughly 15 epochs to vest, and BTRFLY tokens are vested linearly to the user over that period. The protocol builds its core reserves through three type of bonding markets, strategic asset bonding, liquidity bonds, and thecosamata bonds. These three bonding primitives help ensure the protocol can accumulate and lock liquidity and governance power.
The protocol previously offered five types of bonds:
  • TOKE Bonds
  • CRV Bonds
  • CVX Bonds
  • OHM:BTRFLY Sushi LP Bonds
  • Thecosamata (WETH) Bonds
In order for a new bonding asset to be added to the protocol, the DAO must follow the common governance procedure in order for the community-elected policy team to create the accurate bonding parameters around the asset.
The bonding parameters mentioned above use the following levers to ensure sustainability and are core concepts that users who enter the protocol through bonding should be familiar with:
Balance is your balance of tokens. This is the strategic asset used to create a bond.
Bond Price is the price of BTRFLY you get from bonding. You can calculate the bond price using the following formula:
  • Liquidity Bonds: (Value of your LP token / BTRFLY you'll get from bonding)
  • Strategic Asset/Thecosamata Bonds: (Value of your token / BTRFLY you'll get from bonding)
Market Price is the market price of BTRFLY.
You Will Get is the number of BTRFLY tokens you will get from bonding.
Debt Ratio measures the total amount of BTRFLY created from bonds that have yet to be paid out by the protocol. The debt ratio is calculated differently for liqudity bonds and asset bonds:
  • Liquidity Bonds: (BTRFLY created from unredeemed bonds / BTRFLY total supply)
  • Strategic Asset/Thecosamata Bonds: (BTRFLY created from unredeemed bonds / BTRFLY circulating supply)
Vesting Term measures the period a bond takes to fully redeem. This number is calculated in Ethereum blocks. 33110 blocks is approximately 5 days or 15 epochs.
Discount is the difference between the bond price and the market price.
Pending Rewards is the amount of BTRFLY you are entitled to receive from bonding. The bonding function enables a linear vest.
Claimable Rewards is the amount of BTRFLY that you can claim now. This amount keeps increasing as BTRFLY is linearly vested to you over the bonding period.
Full Bond Maturation refers to the Ethereum block when the bond is fully redeemable.