$POND Emissions

$PONDS are available for purchase when $PEAK falls below the 1 METIS peg. If $PEAK’s TWAP is between 1.00 and 1.01, neither $PONDS nor $PEAK will be issued.

e.g. if $PEAK’s TWAP < 1, exchange $PEAK for $PONDS will be in a 1:1 ratio.

$PONDS are available for redemption when $PEAK goes above the 1 $METIS peg.

To encourage the redemption of $PONDS for $PEAK when PEAK TWAP > 1.1 and incentivize users to redeem at a higher price, $PONDS redemption will be more profitable with a higher $PEAK TWAP value, of which $PONDS to $PEAK ratio will be 1:R, where R can be calculated in the formula as shown below:

R=1+[(PEAK(​TWAP price)−1)∗coeff)]

Where coeff = 0.7