Derify Protocol Documents
  • About Derify
    • General
    • Trading
    • Margin Token
    • Trading Token
    • Position Mining
    • Brokers
    • Grant Program
    • eDRF & Governance
    • Bond
    • Insurance, Buyback and Burn
    • Other
  • Getting Started
    • Tutorial
      • Connect Wallet
      • Choose Broker
      • Faucet
      • Deposit & Withdraw
      • Open Positions
      • Close Positions
      • Earn
      • Apply For Broker License & License Extention
      • Grant
    • Dictionary
  • DRF Token
    • General
    • Distribution & Release
  • Derify DAO
    • Overview
    • DAO Contributor
  • Whitepaper
    • Introduction
    • Mechanism
      • Contract Calculation
      • hAMM
      • Position Mining
      • Index Price
      • Risk Factor
        • Risk Exposure
        • Risk Ratio
      • Risk Control
        • Position Change Fee
        • Position Restriction
        • Auto Deleverage and Mandatory Liquidation
        • Dynamic Mining Reward
      • Risk Compansation
        • Insurance Pool
        • Bond and Buyback Fund
    • Implementation
      • Transaction Order
      • Side-chain, Rollup and Cross Chain
      • Against Front-running Attack
      • Against Flash-loan Attack
    • Tokenomics
      • DRF Token
      • Trading Fee
      • eDRF Token
      • bToken
    • Community and Governance
      • Broker
      • Developers and Other Members
      • DAO Governance
    • Roadmap
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  • What is bond token - bToken?
  • What circumstance will you get bToken?
  • What should I do after obtaining bToken?
  • Under what circumstances can bToken be exchanged for BUSD?

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  1. About Derify

Bond

上一页eDRF & Governance下一页Insurance, Buyback and Burn

最后更新于1年前

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What is bond token - bToken?

bToken bond is a redeemable margin equivalent that is temporarily issued when the system cannot fully redeem users' margin withdrawals. It is a 1:1 exchangeable token with a margin (e.g. USDT). It is a tool for system risk control, and also a means to protect users interest from extreme system risks.

What circumstance will you get bToken?

bToken is not pre-issued, and will only be automatically issued via smart contracts when the system generates a net loss or when the insurance pool cannot fully cover users funds withdrawal. For details, please refer to our article on Medium:

What should I do after obtaining bToken?

  1. Keep it in your wallet first. When the buyback fund has a balance, it will redeem it in 1:1. Then you can convert it into margin.

  2. Sell it in secondary market, for e.g. PancakeSwap

  3. staking bToken to earn interest

  4. Provide liquidity for bToken in the secondary market and get stablecoin LP income

Under what circumstances can bToken be exchanged for BUSD?

When the buyback fund has a balance, bToken holders can exchange bToken back to deposit at any time

https://derify.medium.com/how-does-the-insurance-pool-in-derify-works-c8887ceda8c5