This redemption mechanism was implemented in LIP-003: Governance Redemption Pool after the DAO voted in favour. This allows all LGO holders to claim Liquid Treasury assets, made up of Senior LLP tokens (BTC, ETH, BNB, USDT) and LVL/USDT LP tokens. Using this redemption mechanism, LGO holders can surrender their LGO tokens against their pro-rata ownership of the Treasury Liquid Assets. LVL tokens held in the Treasury are excluded from the Liquid Assets.
Captured 11 May 2023
Every 2 weeks there is a 2-day redemption window for LGO holders to redeem their LGO tokens for these Liquid Treasury Assets. Once redeemed the LGO tokens are burned.