Bonds
For those who are not yet familiar with the bonding system we will make a quick explanation before entering the subject. On the protocol side, the bonding system is a system that allows to recover funds to own treasury and/or liquidity (POL & POT). On the users side, bonds are a mechanism that allows to acquire the token at a lower price than the market price. The discounts made according to the price action of the token and the setting of the bonds are extremely variable and can go from 0 to several dozen % of reduction. Tokens acquired through bonds are directly minted through the contract which inevitably increases the supply of the allocated token. The tokens received are generally sold linearly over several days/months to limit the selling pressure and to smooth the introduction of new tokens on the open market. The user who seeks to acquire new tokens via the bonds is attentive to each price variation to obtain the biggest possible discount on his newly acquired tokens. Note that with each token minted via bonds the discount decreases and can even be negative with a price of bonds > market price depending on supply and demand. In conclusion the bonds, when they are well set up, are an excellent way for a protocol to raise funds and for a user to get discounted tokens. Now that we have reviewed the basics together we can move on to the characteristics of the bonds in our protocol. As mentioned in the previous section, avoiding having an illiquid token is a priority for us. Holding its own liquidity in the long term is therefore essential and offering OMM/USDC bonds is an efficient way to achieve this. The first whitelist asset to mint $OMM via our bonds will be USDC/OMM. The minted tokens are vested linearly over 5 days. Through our Treasury Management strategy to create a deflationary token, having assets under management is also a major point of the protocol, the second whitelist asset will be $USDC with also a linear vesting over 5 days for the minted $OMM. We plan to create other bonds with new assets and different vesting periods to increase the offer and diversify the assets of the treasury. You should know that the team is particularly enthusiastic about GMX and GRAIL...
Finally, it is important to note that in order to control any selling pressure created by the bonds, they will not be available directly at launch. We will wait until we have a favorable price action to release the first LP bonds and with discounts in line with the demand. The liquidity pools collected via bonds will not be unwrapped and will serve as a support for liquid tokens. The USDC and other assets collected via bonds will form the protocol's treasury.
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