Bond

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

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