bToken

Bond token, bToken, is used to exchange the corresponding Margin Token at a 1:1 ratio. It also generates interest for the holder and can be traded on secondary markets (for details: Bond and Buyback Fund).

There are 2 ways to get bToken:

• When a user withdraws funds but the insurance pool is under the circumstance of an insufficient redemption rate

• Buy from the secondary market

bToken can be staked in interest pools to receive interest. The annualized rate of return is $i$% and interest is settled at 12:00 a.m. UTC every day.

After being converted into the corresponding Margin Token, the used bToken will be transferred to a smart contract address, and not allowed to withdraw, which means they are burned forever.