Purchase A Bond (1, 1)
Last updated
Last updated
Bonds allow users to buy Moob from the protocol at a discount by trading it with i) liquidity (LP tokens) or ii) other assets. The former is called liquidity bonds and the latter reserve bonds.
Bonds take roughly 15 epochs to vest, and Moob tokens are vested linearly to the user over that period. Liquidity bonds help the protocol to accumulate and lock liquidity, while reserve bonds allow the protocol to grow its treasury, and thus its RFV faster.
Moob offers four types of bonds on its website:
BUSD bond
FRAX bond
MOOB-BUSD LP bond
MOOB-FRAX LP bond
Check out this video on how to get a bond from Moob:
Moobing is a feature that allows you to purchase bonds while sending the acquired MOOB to another address. This is useful for additional privacy, or for purchasing multiple bonds while the current bonds are still vesting. Note that if the same account holds multiple bonds, the pending rewards from the earlier bonds have to be forfeited.
Go to Bond page and select the bond type you want to purchase.
Select the amount that you would like to bond, then click on the cogwheel icon at the top right of the page.
The Moobing menu will show up. At the Recipient Address field, you can specify a different address that will receive the vested MOOB. By default, it is filled with your current address.
You can also modify the Slippage field to increase or decrease the likelihood of your order getting through. A higher slippage increases that likelihood, but you may get a more undesirable fill price.
Close the Moobing menu by clicking the cogwheel icon again.
Click "Approve" and sign the transaction.
After the "Approve" transaction has been processed successfully, click "Bond" and sign the transaction. Voila, you have purchased your first bond using the Moobing method !
Notes:
The "Approve" transaction is only needed when bonding for the first time; subsequent bonding only requires you to perform the "Bond" transaction.
When Moobing , do not alter the bond amount after you have closed the Moobing menu, as it will reset the recipient address.
Go to Bond page and select the bond type you have purchased. Select the "Redeem" tab. Then, click "Claim Rewards" to claim all of your available rewards.
Balance is your balance of SLP tokens. This is the asset used to create a bond.
Bond Price is the price of MOOB you get from bonding. You can calculate the bond price using the following formulae:
SLP Bond: (Value of your SLP token / MOOB you'll get from bonding)
DAI Bond: (Value of your DAI token / MOOB you'll get from bonding)
Market Price is the market price of MOOB .
You Will Get tells you how many MOOB you will get from bonding.
Debt Ratio measures the total amount of MOOB created from bonds that have yet to be paid out by the protocol. The debt ratio is calculated differently for SLP bond and DAI bond:
SLP Bond: (MOOB created from unredeemed bonds / MOOB total supply)
DAI Bond: (MOOB created from unredeemed bonds / MOOB circulating supply)
Vesting Term measures the period a bond takes to fully redeem. This number is in Ethereum blocks. 33110 blocks is approximately 5 days or 15 epochs.
Discount is the difference between the bond price and the market price. In the screenshot above, bonding would give you a 10.63% discount versus buying the same amount of MOOB from the market.
Pending Rewards is the amount of MOOB you are entitled to receive from bonding.
Claimable Rewards is the amount of MOOB that you can claim now. This amount keeps increasing as MOOB is vested to you over the bonding period.
Full Bond Maturation refers to the Ethereum block when the bond is fully redeemable.
