Skip to main content

Opening a bond

You do not have to sell to hold a bond. Committing tokens directly is the better path, and the protocol prices it that way.

openBond(amount)     with   20% of your balance  ≤  amount  ≤  100%
 ├─ the tokens leave your wallet and join the reward pool
 └─ the bond starts at 15%/day — the 10% base plus a +5 point boost

The 20% floor​

A bond must be a real commitment, not dust. The minimum is 20% of whatever you hold at the time. The maximum is simply your whole balance.

Note that the floor is per transaction, not per lifetime: you can commit repeatedly, each time 20% of what remains. The practical rule is therefore one token committed equals one unit of principal — there is no hidden multiplier.

Each commitment is its own position​

A bond is an ERC-721 token, and every commitment mints a new one. You can hold as many as you like; each keeps its own principal, its own rate and its own bonus clock.

Positions are transferable: a bond can be sent to another wallet or traded on any NFT marketplace, carrying its principal, its rate and its accrued rewards with it.

If that leaves you with a scattering of small positions — ten sells give ten bonds — merge consolidates them. The surviving rate is the amount-weighted average:

100 000 principal at 10.00%   +   2 000 principal at 10.25%
  →  (100000 × 1000 + 2000 × 1025) / 102000  =  10.00%   (in bps, rounded down)

A dust position barely moves the rate. An equal-sized one pulls it halfway. Merging can therefore never hand out a better rate than the parts deserve, and it takes the later of the two bonus clocks — so it never grants a free rate step either.

Merging also only combines like with like: every bond in a merge must share the same origin (sell with sell, commit with commit) and the same boost state (alive with alive, forfeited with forfeited). Anything else would let the average launder a boost or an origin away.

The boost​

Every bond earns the 10%/day base. A commit bond carries +5 points on top from birth — 15%/day effective — because committing is a choice. The boost is not written into the stored rate: compounding climbs the stored ladder, the boost rides on top, and what a bond earns is capped at 20%/day. While the boost is alive the ladder stops at 15% and the boost fills the rest, so reaching the cap takes 20 compounds — 5 days at one per window. That ceiling covers what you earn; a rate grant from the deploying key is added on top of it and is not capped.

Losing the boost​

The boost lasts exactly as long as the holding does. The moment your wallet moves even one token out — a sell, or a transfer of any size — every commit bond it holds loses the +5 points, permanently for those bonds. A bond compounded to an effective 18% falls to 13%: the compound steps are kept, and the ladder can keep climbing afterwards, all the way to 20%.

The punishment is per event, not a lifetime mark: a commit bond you open later starts boosted again. And not everything counts as leaving — committing more, claiming rewards, receiving tokens and donating to the reward pool strip nothing.

One practical rule: the un-harvested window in progress is re-priced without the boost the instant you sell. Harvest before you sell.

What committing earns you at the exit​

Opening a bond grants a retention-free selling allowance: 5x the principal that bond opened with, for life. While your sale fits inside what remains of it, the sell pays the 3% tax and nothing else: no 10% withheld, no new bond minted, the whole net is sold. The route does not matter, the official app, an aggregator and a direct pool swap all qualify, as long as the tokens sold come out of your own wallet.

Committing is the bigger lever, because you choose the size. A commitment of 1 000 grants 5 000 of allowance, where a sell that retained 97 grants 485.

The grant is struck once, at the opening, and nothing revises it afterwards:

  • Every exempt sale consumes its full amount. The counter never resets.
  • Opening another bond raises your allowance, by 5x whatever that one opened with.
  • Compounding does not. It grows the bond's principal, but the grant was fixed at the opening, so accrued rewards can never be turned into retention-free volume.
  • Transferring or selling the bond does not move it. The allowance belongs to the wallet that first received the position, permanently.
  • Once your exempt sales have consumed the lot, the full retention returns: the next sell pays the 10% and mints a bond, which grants afresh.

Why a cumulative quota rather than a per-sale cap: a per-sale threshold ("this sale is smaller than 5x the bond") could be salami-sliced — a whale holding a dust commit bond could cut any volume into slices under the threshold and exit it all retention-free. The cumulative quota kills that: total exempt volume is bounded by five times what was actually committed, however it is sliced.

The check cannot be spoofed: the exemption applies only when the declared seller is provably the one selling — either the official router vouches for it, or that wallet sent out at least as much C4 as the sale during the same transaction. Naming someone else's wallet in the swap data buys nothing, because their balance never moved.

What you give up​

The principal is not recoverable. It is the basis used to compute your rewards, not a balance you can withdraw. Committed tokens join the reward pool and are paid back out — to you and to everyone else — as rewards.