🍿Conversion

Conversion between $ZKLAB and $ZKLABX is a two-way street, but the method depends on the direction of the conversion.

To convert $ZKLAB into $ZKLABX, users can do so at any time with a 1:1 ratio and no waiting period.

To redeem $ZKLABX for $ZKLAB, users must go through a vesting process, with the duration of the vesting period determined by the user. The conversion ratio increases with the length of the vesting period, with a maximum duration of 6 months providing a 1:1 ratio. Conversely, a minimum vesting duration of 15 days offers a 1:0.5 ratio. Any unclaimed $ZKLAB above the ratio will be burned.

During the redemption process, 50% of the value of $ZKLABX is automatically allocated to the dividends plugin. For example, redeeming 1000 $ZKLAB will result in the allocation of 500 $ZKLABX to the Dividends plugin. Once the vesting period ends, this allocation is automatically canceled.

Users have the freedom to cancel any $ZKLABX redemption process at any point. Cancelling the process will result in the retrieval of the entire amount of redeeming $ZKLABX, but no $ZKLAB will be earned.