bON

ON and bON can be converted to each other with a 1:1 ratio. Conversion from ON to bON does not require a lockup period. However, when converting from bON to ON, the following lockup period rules apply:

• Minimum 15-day lockup period with a 1:0.5 ratio (ON:bON)

• Maximum 180-day lockup period with a 1:1 ratio (ON:bON)

The ratio will change linearly between 1:0.5 and 1:1 based on the length of the lockup period. Any unclaimed ON will be burned.