Conversion - Redeeming

KIM and xKIM are mutually convertible into each other, but the process is different depending on the direction.

KIM > xKIM conversion

KIM can be freely converted into xKIM at any time. The process is instant, and the ratio is 1:1.

xKIM > KIM redeem

The redemption process to convert xKIM to KIM implies vesting, the duration of which is selected by the user. The conversion ratio will increase proportionally with the vesting duration:

• The minimum vesting duration of 15 days will provide a 1:0.5 ratio

• The maximum vesting duration of 6 months will provide a 1:1 ratio

If the selected vesting duration is lower than the maximum (ratio < 1:1), the unclaimed excess KIM is burned

Dividends allocation

While being redeemed, the xKIM is automatically allocated to the dividends plugin, but only for 50% of its value.

For instance, if a user was to redeem 1000 xKIM, she would earn dividends as if she actually allocated 500 of them to the Dividends plugin.

Cancel redeem

Any xKIM redeeming process can be freely interrupted at any time by the user.

Any cancelled redeem before its end will void the whole process. User will retrieve its entire amount of redeeming xKIM, and no KIM.