Warp Bonds
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How to Buy a Bond
How-To Guide on Buying a WARP Bond
In order to buy a bond please select the Bonds menu and click on "Create Bonds" tab.
creating a bond
Bonds allow you to buy WARP at a discounted rate compared to the market price. You can buy a bond using DAI, MAI or WARP-DAI LP tokens, each bond type having its own discount.
The bonds are vested over 5 days, meaning they will slowly drip WARP over the course of 5 days.
You can redeem WARP from the bond anytime, which you can either withdraw to your wallet or select to have it staked for maximum rewards. If you choose to stake it, then your bond WARP will be staked on Earth. If you want to stake it on a different planet you will have to first withdraw the WARP tokens to your wallet then stake on that planet through the Staking page.
Below you can see the bonds interface:
bonds interface
Buying a bond starts with selecting a bond type. You can select between WARP-DAI LP, DAI or MAI.
In the list you can see the Bond Type, the Bond Price (this is the price at which WARP is being sold to you at a discount compared to market price), the ROI (discount you are receiving) and the total BALANCE (Treasury balance for that particular bond type as a global statistic).
On our example, we selected DAI which offers a 9.95% discount.
Once we've selected the DAI bond type the interface will display the following information:
Bond Price: the discounted price we are receiving for buying WARP
Warp Price: current WARP market price
5-Day ROI: your 5 days return of investment as the bond is vested over 5 days
Your Balance: your wallet DAI balance
You will get: how much WARP you are receiving for the amount you entered in the DAI amount field
Maximum: maximum amount of WARP you can buy at a time
Vesting Period: 5 days. Your WARP tokens are vested over 5 days (ex: you can redeem 20% every day for 5 days).
Starship Parts -> Qualifying Bond: Yes/No. If you buy a bond worth a minimum of $250 you will also receive a starship part.
Strength of Part: value between 250 - 5000 max based on purchase amount for hull, bridge, engine; unlimited for fuel cell.
Deposit amount: input box /slider for selecting the amount of DAI you want to spend.
If this is the first type you are purchasing a certain bond type the "Bond" button will be replaced with an "Approval" button first, after which you can bond.
Note:
There are initially 40,000 starships parts available:
10.000 hulls, 10.000 bridges, 10.000 engines, 10.000 fuel cells.
Every time you buy a bond worth of a minimum of $250, besides the WARP which you are receiving from the bond you will also be minted a random starship part. After the 40.000 initial parts are being minted, every bond purchase over $250 will only mint fuel cells.
A higher bond amount will offer you a starship part with a higher strength.
Ex: buying a bond of $250 will give you a starship part with 250 strength points, while buying a bond of $1000 will give you a starship part with 1000 strength points. The maximum strength a hull, bridge or engine can have is 5000. There is no cap for the fuel cell.
Note:
When buying a bond using WARP-DAI LP tokens it is advised to buy a little extra over the minimum of $250 if you are interested in receiving a starship part!
Because LP tokens value moves as the WARP market price moves, trying to buy an exactly $250 bond using LP tokens might result in not receiving a starship part if the LP token value changes while your transaction is still processing.
The UI is going to show if the value of the LP amount you are depositing is over the $250 minimum but this is not a guarantee the valuation will be fixed for the duration your transaction is being processed in the blockchain. Please be advised that the WARP team cannot help you in this situation.
This is not a risk when buying a bond with DAI or MAI because the bond contract is using a fixed value of $1 for 1 DAI/MAI.
How to Redeem a Bond
In order to redeem WARP from a bond please select the Bonds menu and click on "My Bonds" tab.
The "My Bonds" area is where you can see all your active bonds by type and redeem WARP.
In our example above, you can see we have a WARP-DAI LP bond which we paid $150 for at a price of $15 and is going to give us a payout of 10 WARP. The claimable amount is 10 WARP and the vesting check mark confirms that the 5 days vesting period is also over.
You will notice the claimable amount constantly increasing over the course of the 5 vesting days as WARP drips and it's available to be claimed.
You have the option to either Claim or Stake the bond's WARP.
Claiming will withdraw the full claimable WARP amount to your wallet balance, while staking will stake the full claimable WARP amount on planet Earth.
If you have several active bonds you can also use the Claim All / Stake All buttons which will claim/stake from all your active bonds in just 1 single transaction.
You also have the option to view your NFT bonds on Opensea, since all WARP bonds are also minted as NFTs. You can transfer a WARP NFT bond to another wallet if you wish so and the bond will become owned by the other wallet.
Once a bond is being redeemed, it is destroyed and there is no bond history available.
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