Redemption

Overview

MOZ and esMOZ are separate tokens. After Lumoz mainnet launch, esMOZ can be redeem as MOZ under different circunstances. Upon the completion of a redemption process, one token will be burned and it's counterpart minted.

https://quidditch-zkverifiers.lumoz.org/redeem

Redeeming MOZ for esMOZ

MOZ may be redeemed for esMOZ at any time without penalty or restriction. The ratio of conversion is always 1:1 (100%) and there is no unlock period.

Redeeming esMOZ for MOZ

The redeem process to convert esMOZ to MOZ includes an unlock period, the duration of which is selected by the user. The conversion ratio will increase proportionally with the redemption duration:

• The minimum redemption duration of 30 days (30 seconds in Quidditch Testnet) will provide a 1:0.25 ratio (25%).

  • The remaining 75% of esMOZ will be burned upon claim of the redemption.

• The middle redemption duration of 90 days (90 seconds in Quidditch Testnet) will provide a 1:0.5 ratio (50%).

  • The remaining 50% of esMOZ will be burned upon claim of the redemption.

• The maximum redemption duration of 180 days (180 seconds in Quidditch Testnet) will provide a 1:1 ratio (100%).

Regarding the cancellation of esMOZ redemption:

• Any esMOZ redeeming process can be freely cancelled at any time by the user. This cancellation also considers when the unlock period is over, only if the redemption has not been withdrawn.

• Any canceled redemption before its end will void the whole process. Users will retrieve their entire amount of esMOZ and won't get MOZ. If users initiate another redemption attempt, they will have to start again with a new unlock period.