The first batch of Kusama vsBond will expire on August 6, be sure to process the redemption on time.

The redemption period for Bifrost Kusama, one of the supported programs under the SALP (Slot Auction Liquidity Protocol), vsBond-20220516-KSM-BNC, expires on August 6, 2022. Go to the bifrost.app to complete the redemption.

Why does vsBond expire?

In order to avoid malicious hoarding of vsBonds, which could lead to a single point of control risk for certain vsBonds and adversely affect normal redemptions, SALP has designed the protocol with an 84-day redemption period for vsBond, after which vsBond cannot be redeemed, thus eliminating the incentive to hoard vsBond in bad faith.

How to use an expired vsBond

For expired vsBond, the Redeem and Order functions are closed.
However, users can still use the Convert Function to convert expired vsBond to vsKSM, thus recovering some of their losses.

  • Convert the expired vsBond to vsKSM via the Convert interface: the conversion rate is fixed at 1 vsBond : 0.5 vsKSM (refer to the Wiki for the updated convert rate).
  • Convert vsKSM to KSM in the Swap interface for KSM redemption purposes.

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