Redemption
With the exception of 20% reserved for protocol development, 80% of the existing cash balance (BTC, ETH, CAKE, BNB, BUSD) within the Treasury is made available for redemption by LGO holders.
The DAO proposal LIP-003: Governance Redemption Pool has voted in favor of implementing a redemption mechanism, allowing LEVEL stakeholders to claim Liquid Treasury assets such as BTC, ETH, BNB and stablecoins. LGO holders can freely choose to surrender any and all portions of their LGO tokens against their pro-rata ownership (the surrender value) of the Treasury’s cash balance excluding LVL tokens.
Every 2 weeks there is a 2-day redemption window for LGO holders to redeem their LGO tokens. Once redeemed those LGO tokens are burned.
For more details and explanation about how the Redemption mechanism works, please have a look at our tutorial page.
Last modified 15d ago