HBOND - HERMES BOND
HERMES Bonds (HBOND) main job is to help incentivize changes in HERMES supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of HERMES falls below 1:1 AVAX , HBONDs are issued and can be bought with HERMES at the current price. Exchanging HERMES for HBOND burns HERMES tokens, taking them out of circulation (deflation) and helping to get the price back up to peg. These HBOND can be redeemed for HERMES when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for HERMES when it is above peg, helping to push it back toward 1 HERMES to 1 AVAX ratio.
Contrary to early algorithmic protocols, HBONDs do not have expiration dates.
If your HERMES is below peg go to tarturus and buy some HBOND. Exchange HERMES for HBOND Redeem after peg is above 1.1 to receive bonus HERMES!
All holders are able to redeem their HBOND for HERMES tokens as long as the Treasury has a positive HERMES balance, which typically happens when the protocol is in epoch expansion periods.