Purchase A Bond (1,1)
Bonds allow users to buy FIDL from the protocol at a discount by trading it with i) liquidity (LP tokens) or ii) other assets. The former is called liquidity bonds and the latter reserve bonds.
Bonds take roughly 15 epochs (which is approximately 5 days) to vest, and FIDL tokens are vested linearly to the user over that period. Liquidity bonds help the protocol to accumulate and lock liquidity, while reserve bonds allow the protocol to grow its treasury, and thus its RFV faster.
Trapeza Protocol offers two types of bonds on its website:

Settings

Settings is a feature that allows you to purchase bonds while sending the acquired FIDL to another address. This is useful for additional privacy, or for purchasing multiple bonds while the current bonds are still vesting. Note that if the same account holds multiple bonds, the pending rewards from the earlier bonds have to be forfeited.
  1. 1.
    Go to Bond page and select the bond type you want to purchase.
  2. 2.
    Select the amount that you would like to bond, then click on the cogwheel icon at the top right of the page.
  3. 3.
    The Settings menu will show up. At the Recipient Address field, you can specify a different address that will receive the vested FIDL. By default, it is filled with your current address.
  4. 4.
    You can also modify the Slippage field to increase or decrease the likelihood of your order getting through. A higher slippage increases that likelihood, but you may get a more undesirable fill price.
  5. 5.
    Close the Settings menu by clicking the cross icon.
  6. 6.
    Click "Approve" and sign the transaction.
  7. 7.
    After the "Approve" transaction has been processed successfully, click "Bond" and sign the transaction. Voila, you have purchased your first bond using Settings!
Notes:
  • The "Approve" transaction is only needed when bonding for the first time; subsequent bonding only requires you to perform the "Bond" transaction.
  • When using Settings, do not alter the bond amount after you have closed the Settings menu, as it will reset the recipient address.

How to Redeem

Go to Bond page and select the bond type you have purchased. Select the "Redeem" tab. Then, click "Claim Rewards" to claim all of your available rewards.

Reading the Info

Bond tab

Bond Price is the price of FIDL you get from bonding. You can calculate the bond price using the following formulae:
  • LP Bond: (Value of your LP token / FIDL you'll get from bonding)
  • BUSD Bond: (Value of your BUSD token / FIDL you'll get from bonding)
Market Price is the market price of FIDL.
Your Balance is your balance of tokens. This is the asset used to create a bond.
You Will Get tells you how many FIDL you will get from bonding.
Max You can Buy is the maximum amount of FIDL available to be bought.
ROI is the difference between the bond price and the market price. If it says 10.63%, the bonding would give you a 10.63% discount versus buying the same amount of FIDL from the market.
Debt Ratio measures the total amount of FIDL created from bonds that have yet to be paid out by the protocol. The debt ratio is calculated differently for LP bond and BUSD bond:
  • LP Bond: (FIDL created from unredeemed bonds / FIDL total supply)
  • BUSD Bond: (FIDL created from unredeemed bonds / FIDL circulating supply)
Vesting Term measures the period a bond takes to fully redeem.

Redeem tab

Pending Rewards is the amount of FIDL you are entitled to receive from bonding.
Claimable Rewards is the amount of FIDL that you can claim now. This amount keeps increasing as FIDL is vested to you over the bonding period.
Time until fully vested is the time until the FIDL minted will be fully redeemable.