🥃bECLIP

Liquid staking derivative for ECLIP with added utility

Bonding ECLIP

Users can "Bond" their staking/locked positions and receive bECLIP.

bECLIP will automatically earn Cosmic Essence

Bonded positions are 12 month locked ECLIP positions with the timer paused until unbond occurs. Meaning bECLIP will always unbond to 12 months vesting. When bonded any position is automatically pushed to its maximum 12 month lock to receive the highest amount of Essence and Rewards possible.

ie. a user has 2 positions, a 3 month 100 ECLIP locked position and a 50 ECLIP 12 month locked position. User A wants to convert these into bECLIP. The user first bonds the 3 month 100 ECLIP position to bECLIP. This increases their Cosmic essence to the maximum ofif the position was a 12 month position and converts the 100 ECLIP into 100 bECLIP. The user then also does this with the 50 ECLIP 12 month position and is left with 150 bECLIP earning the maximum rewards and is able to have its utility split on the Cosmic Foundry.

Unbonding

This action is immediate and does not incur any fees. Since time-locked positions have an early unlock fee for those who want to get out early, bECLIP will allow for this to happen directly from bECLIP without having to unbond the bECLIP manually first and will have the same penalties as unlocking early on a 12 month position = 70%. Alterntively bECLIP can be unbonded and the early unlock penalty will lower each day as the countdown drops.

Partial Unbonding

bECLIP supports partial unbonding.

ie. the user has 100 bECLIP and unbonds 20 bECLIP. The user receives a 20 ECLIP locked position with a 12 month countdown. A day later the user unbonds another 10 bECLIP, this will generate a second and separate 10 ECLIP locked position with a 12 month countdown.

Cosmic Foundry

Coming soon