Token Conversion Process

Nanon and esNanon are distinct tokens. Upon redemption, one token is destroyed and its corresponding token is minted.

• Converting Nanon to esNanon: This can be done at any time without penalties or restrictions, at a 1:1 ratio, with no lock-up period.

• Converting esNanon to Nanon: This process involves a lock-up period, the duration of which is chosen by the user. The conversion rate improves the longer the lock-up period:

  • The shortest redemption period is 15 days with a 25% conversion rate. The remaining 75% of esNanon is destroyed.

  • An intermediate period of 90 days offers a 62.5% conversion rate. The remaining 37.5% is destroyed.

  • The longest period is 150 days with a 100% conversion rate.

  • Users can cancel the conversion process at any time, including after the lock-up period ends, if they have not yet claimed the exchange.

  • Any canceled conversions before the end will void the process, and users will retrieve all their esNanon, not Nanon. If they initiate another conversion, they must start the lock-up period anew.

• The Nanon Foundation may retain up to 50% of the esNanon that could be destroyed in 15-day and 90-day redemptions to support the network.