🎫mGRAIL -> GRAIL Redemption
mGRAIL holders can now redeem their tokens for GRAIL at a 1:1 ratio minus Camelot’s deallocation fee.
Last updated
mGRAIL holders can now redeem their tokens for GRAIL at a 1:1 ratio minus Camelot’s deallocation fee.
Last updated
To redeem mGRAIL for GRAIL, users can initiate the process through Campie. Here’s how it works:
Users submit withdrawal requests.
Campie aggregates users’ mGRAIL withdrawal requests bi-weekly.
A consolidated withdrawal request will be submitted by Campie to Camelot, with the underlying xGRAIL amount used to cover the 0.5% deallocation fee.
The underlying xGRAIL corresponding to the mGRAIL enters a six-month vesting period on Camelot.
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.
