🎫mGRAIL -> GRAIL Redemption

mGRAIL holders can now redeem their tokens for GRAIL at a 1:1 ratio minus Camelot’s deallocation fee.

The mGRAIL Redemption Mechanism

To redeem mGRAIL for GRAIL, users can initiate the process through Campie. Here’s how it works:

1. Submission Window:

• Users submit withdrawal requests.

• Campie aggregates users’ mGRAIL withdrawal requests bi-weekly.

2. Campie’s Withdrawal request:

A consolidated withdrawal request will be submitted by Campie to Camelot, with the underlying xGRAIL amount used to cover the 0.5% deallocation fee.

3. Vesting Period:

The underlying xGRAIL corresponding to the mGRAIL enters a six-month vesting period on Camelot.

4. Final Redemption:

Once the vesting period concludes, users will receive their GRAIL tokens at a 1:1 ratio (minus Camelot’s xGRAIL deallocation fee).

Note: The bi-weekly mechanism ensures a streamlined and efficient redemption process, balancing flexibility with the operational requirements of Camelot’s ecosystem.