How to Buy a Bond (1,1)
Bonding allows users to mint MAMA from the protocol at a discount by trading it with i) assets (such as DAI) or ii) liquidity (LP Tokens). The former is called reserve minting and the latter liquidity minting.
The minting action create bonds which take roughly 9 epochs to vest (3 days vesting period), and MAMA tokens are vested linearly to the user over that period. Liquidity minting help the protocol to accumulate and lock liquidity, while reserve minting allow the protocol to grow its treasury, and thus its Backing per MAMA faster.
MAMA DAO currently offers different types of assets that can be used to mint MAMA on the bonding page of our webapp:
- More bond options will be made available soon (e.g. MATIC, Metaverse & Gaming projects)
Go to the Bond page and select the bond type you have purchased. Select the "Redeem" tab.
Use the Claim to claim all of your available rewards, and have the pending MAMA sent to your wallet.
Use the Claim and Autostake button to have all the available MAMA sent automatically to the staking contract and receive the sMAMA as a receipt for your stake!