$SBOND

$SBOND is a special token that incentivizes the stability of $SECCI by reducing the circulating supply when $SECCI falls below peg.

The $SBOND will only be available for purchase during contraction periods when $SECCI falls 20% below peg. They are purchased by burning a $SECCI which causes an upwards pressure on the price, bringing $SECCI back to 1:1 rate with $USDC.

When the value of $SECCI goes above 1:1 to peg, the bonds sold during this time will receive a bonus of 0.7%, which incentivizes traders to sell their $SBONDs which in turn mints more $SECCI creating a downwards pressure on the price of $SECCI.

*$SBONDs sold below 1:1 peg will not return any bonuses*

When the price of $SECCI returns to peg a “debt phase” will occur, causing 65% of newly minted $SECCI in the next several epochs to be sent to the treasury in order to pay back the traders that sold $SBOND while it was above 1.1 to peg.

$SBONDS will not return any yield while you hold them.