Bonding
Bonding is an active strategy allowing Excalibur to build up a treasury made of liquidity and reserve assets.
Every bond contract will offer to exchange GRAIL, Excalibur shareholding token, against either Excalibur LP tokens or single assets.
You will find all those contracts on the bonding page
Like for farms, you can just click on a line to open a Bonding page, with all its related information and actions.
Bond general information
You'll find on top of the page the following information:
The bond token, that's the token you will deposit to exchange it against GRAIL. Note that once deposit, you won't be able to get it back
The type of the bonding contract, either FCFS (First Come First Serve) or Auction
Available supply is the maximum amount of GRAIL that can be distributed through this bonding session. The outstanding GRAIL supply that weren't bonded won't be minted.
Vesting duration is the duration of the period of time during which you will progressively get vested rights over the GRAIL you exchanged against your bond tokens. At the end of the vesting duration, your entire allocation can be claimed. For instance, if you got 24 GRAIL for a vesting duration of 1 day, that means you will be able to claim 1 GRAIL/h, until the end of the day
The next phase start / current phase end countdown
Then comes a part about the auction-related information:
Total raised is the total amount of deposits in bond tokens that have been made since the beginning of the auction
The current GRAIL price, expressed in bond tokens value
The initial GRAIL price at the start of the auction, expressed in bond tokens value
Auction phases
Every bonding contract of auction type can be divided in 3 main phases:
The auction phase, during which everyone deposits bond tokens
The bonding phase, used to synchronize your participation with the actual bonding contract
The vesting phase, for participants to claim their allocated GRAIL over time
Auction
During this phase, everyone can participate by depositing any amount of bond token.
Once done, you will be able to check your total deposit and your current GRAIL allocation, based on the current GRAIL price.
Be careful! During an auction, there is an initial GRAIL price, but the more bond tokens deposits are made, the more the current GRAIL price will increase.
That means the displayed value for "your current GRAIL allocation" isn't the final value as long as the auction has not ended.
You can check the bonding documentation page if you want more info about the GRAIL price calculation during an auction.
Bonding
Starting now, only the auction participants will be able to perform the following actions.
Once the auction phase has ended, the bonding session will enter into the bonding phase.
The process is very straightforward, you will need to:
Approve the bonding contract
Click on the "Bond" button, that will synchronize the data between the auction and the actual bonding contract
The Bond action will generate two successive transactions that you need to confirm.
You will automatically go to the next phase once the bond synchronization has been made.
Vesting
At this stage, you will be able to progressively claim your GRAIL over time.
Pending shows you the total GRAIL that you will be able to claim from now to the end of the vesting period.
Claimable displays the amount of GRAIL that you can immediately harvest through the "redeem" button.
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