🌿xMETIS Token
Last updated
Last updated
xMETIS is an escrowed version of METIS, the native token of the Metis network, created by Hercules and distributed as rewards in select pools.
Like xTORCH, xMETIS is convertible into METIS and follows the same conversion mechanic. At present, METIS is not convertible into xMETIS.
When converting xMETIS to METIS there is a variable period of vesting, the duration of which is selected by the user. The conversion ratio increases proportionally with the vesting duration, as follows:
The minimum vesting duration of 15 days will provide a 1 : 0.5 ratio; i.e., 1 xMETIS vested over 15 days will yield 0.5 METIS.
The maximum vesting duration of 6 months will provide a 1 : 1 ratio; i.e., 1 xMETIS vested over 6 months will yield 1 METIS.
If the selected vesting duration is lower than the maximum (ratio < 1 : 1), the unclaimed excess METIS is returned to the Hercules treasury.
