xGRO Bonds — our new bonding deposit contracts!
Fancy going mild, wild….or full throttle!? The choice is now yours with our latest product offer — xGRO Bonds.
We’re pleased to confirm xGRO Bonds will launch on Tuesday 13 December at 16:00 UTC.
You can access them here: https://app.growthdefi.com/bonds/xgro
In this Medium article we explain what xGRO Bonds are, the exciting investment opportunity they present for xGRO token holders, and how they will support continued burning of xPERPS tokens to further strengthen our ecosystem’s sustainable tokenomics.
What are xGRO Bonds?
xGRO Bonds are our first bonding deposit contracts. These contracts simply allow users to stake and lock up their xGRO for a defined period of time to be guaranteed a profit paid in xPERPs at the end of the chosen period.
There are three lock up periods a user can choose from:
- Mild — 30 days
- Wild — 60 day
- Full Throttle — 90 day
Each bond launches on the same day and lasts for the period indicated. Users wishing to participate will stake xGRO and receive a proportional reward paid in xPERPS at the end of the Bond period.
Deposit and Withdrawal Fees
Each lock up period has set deposit and withdrawal fees, and the details are outlined in the following image:
Users can also add to their position within the bond once it has launched, but will be required to pay the deposit fee. Furthermore, the longer the period of time which passes, the higher the fee will be to enter the bond pool.
Users can alternatively withdraw their xGRO early if they wish — before the bond period elapses — but will incur the withdrawal fee. The fee is then added to the overall reward balance for the bond, making it an even more attractive investment for those who don’t withdraw.
If a user withdraws early, they also receive no rewards at the end of the bond period.
Time/Balance Drip Pool
It’s important of course that users investing in xGRO Bonds earlier in the bonding period are appropriately rewarded, versus those who may choose to deposit much nearer to the bond expiry date.
Therefore, 50% of total dividends are paid proportional to the staking time (balance * time) and the other 50% is paid based solely on the final balances of the contract. This is the mechanism to ensure equity in how bondholders are rewarded proportional to the time they are invested.
Boost your position with xPERPS
xGRO Bonds also offers an opportunity to enhance your returns by created a ‘boosted position’. This is achieved by the user depositing xPERPS tokens.
When a user deposits xPERPS, 60% are instantly burnt and 40% go into a special side pot. At the end of the bonding period, the side pot will be split as follows:
- 1st Place receives 55%
- 2nd Place receives 30%
- 3rd Place receives 15%
How will xGRO Bonds help to burn xPERPS tokens?
As outlined above, the boosted positions to secure side pot rewards present an attractive investment option and we expect there to be significant competition to secure a Top 3 place to win a proportional share.
With 60% of all xPERPS deposited being burned, this represents another great mechanism within the ecosystem to help manage the overall supply of xPERPS tokens over time.
About Growth DeFi
Founded in 2020, Growth DeFi provides an advanced suite of products to investors, helping to increase capital efficiency. For more info on Growth DeFi, please see our main website. Otherwise stop by our Telegram channel to chat with our team.