Redemptions

All sWAX and lsWAX tokens in circulation are always fully backed by actual WAX tokens. If a user ever wants to convert their sWAX or lsWAX back into native WAX tokens, they have 3 options.

• Instant redemption through WaxFusion, which is subject to a 0.05% protocol fee. Instant redemptions are subject to availability based on how much WAX is available in the instant redemption pool.

• Standard redemption which has 0 fee, and can take anywhere from 1-21 days depending on how far into an epoch we are, and how much WAX is available in a particular epoch (there are 3 active epochs at all times, and WAX in the protocol is distributed between the 3 epochs. Redemptions will always come from the first epoch if possible, but if the redemption amount is greater than the funds available in the first epoch, then the remainder of the requested amount will be taken from the 2nd epoch, and the third if necessary)

• Instantly selling lsWAX on the open market, which is subject to market conditions. While there is no protocol fee charged by WaxFusion for this option, there may be a trading fee on whichever DEX you sell your lsWAX on.