Converting & Redeeming

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

HENAI > xHENAI conversion

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

xHENAI > HENAI redeem

The redemption process to convert xHENAI to HENAI 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 HENAI is burned.