Tokenized bonds

Just like staking and locking, bonding positions are also tokenized. When a user buys a bond, his bonding position is represented by an NFT. This NFT will be burned once the full CVG amount has been redeemed.

Users may iterate on an existing bonding position or create a new one at any time. However, iterating on an existing position (increase the amount of bonded asset and thus increase the amount of CVG that can be redeemed) will reset the vesting term.

Like other Convergence's financial NFTs (staking and locking), bonding NFTs can be traded and/or sent to another wallet. Thus, each NFT has a “lock” function that forbids its owner to redeem CVG once triggered. The purpose of this function is to ensure that bonding NFTs buyers won't be frontruned and receive an empty NFT.