Redeeming and Conversion

The minting/conversion page can be found here.

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H3RMES can be converted to xH3RMES at any time, with no fees or penalties. Users might want to convert H3RMES to xH3RMES to get access to the high APR xH3RMES single-staking pool (found here). Converting from xH3RMES to H3RMES can incur fees and penalties, depending on how long the user decides to vest their tokens for. Users can get up to a 50% bonus on their xH3RMES tokens for vesting for longer periods of time.

1. Conversion from H3RMES to xHERMES

   1. No fee or penalty, can be converted at any time with no risk.

2. Conversion from xH3RMES to H3RMES

   1. Instant Withdrawal (with penalty):

      1. 50% penalty if $H3RMES price is positive in the last 24 hours.

      2. 75% penalty if $H3RMES price is negative in the last 24 hours.

   2. Vesting (gradual unlocking):

      1. 14 days → 60% unlocked (0.6x multiplier).

      2. 30 days → 75% unlocked (0.75x multiplier)

      3. 90 days → 100% unlocked (1x multiplier).

      4. 180 days → 150% unlocked (1.5x multiplier).

Vesting xHERMES is not linear, and users must deposit their xHERMES into the vesting contract to begin vesting: this can be cancelled (negating any penalties) up to 14 days after depositing.