How to get or redeem?
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Last updated
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Lock vBNC and receive bbBNC. The bbBNC value is proportional to the amount and duration staked (up to a maximum of 4 years). Each address is associated with a single bbBNC expiry date, and bbBNC can't transfer.
BNC -> vBNC -> bbBNC
The bbBNC value is a key indicator for participating in dividends. Simply put, the higher the proportion of bbBNC value in the overall, the more you might get in various bbBNC holdings benefits.
Your bbBNC value will decrease over time and will reach zero once the lock duration ends. At this point, your staked vBNC will be unlocked.
4 years
1
2 years
0.625
1 year
0.4375
3 months
0.296875
Expired
0
For users who need to unlock bbBNC immediately to retrieve locked vBNC in advance, Bifrost offers a method of early unlocking. However, this comes with a certain slash, the amount of which is related to the time of early redemption. The relevant formula is as follows:
Redemption Slash % =
((Remaining locked blocks + 2,628,000) / 10,512,000)^2The vBNC that users can get by unlocking in advance =
Locked vBNC * (1 - Redemption Slash %)
3 Months
657,000
9.77%
6 Months
1,314,000
14.06%
1 Year
2,628,000
25.00%
2 Year
5,256,000
56.25%
3 Year
7,884,000
100.00%
