$ZKLAB and $ZKLABX are mutually convertible into each other, but the process is different depending on the direction.
$ZKLAB > $ZKLABX conversion $ZKLAB can be freely converted into $ZKLABX any time. The process is instant, and the ratio is 1:1.
$ZKLABX > $ZKLAB redeem The redeem process to convert $ZKLABX to $ZKLAB implies vesting, the duration of which is selected by the user. The conversion ratio will increase proportionally with the vesting duration:
  • The minimum vesting duration of 15 days will provide a 1:0.5 ratio
  • The maximum vesting duration of 6 months will provide a 1:1 ratio
If the selected vesting duration is lower than the maximum (ratio < 1:1), the unclaimed excess $ZKLAB is burned.
Dividends allocation While being redeemed, the $ZKLABX is automatically allocated to the dividends plugin, but only for 50% of its value. For instance if a user was to redeem 1000 $ZKLABX, they would earn dividends as if they allocated 500 of them to the Dividends plugin. This allocation is automatically canceled once the vesting duration has ended.
Cancel redeem Any $ZKLABX redeeming process can be freely interrupted at any time by the user. Any canceled redeem before its end will void the whole process. Users will retrieve their entire amount of redeeming $ZKLABX, and no $ZKLAB.