EXP.EBS Guide
EBS (Expanse Bond System) is a loyalty rewards dapp that incentivizes the behaviour of savings one's exp. Users get to exchange EXP tokens for EBS tokens at the rate of 100:1, and every month their EBS tokens yield 1 EXP token as a way to reward conscious saving.
To deposit EXP tokens into the smart contract (computer application) the user will send EXP to the smart contracts public address. After sending EXP to the EBS contract the user can withdraw those tokens anytime before trading EXP for EBS. The EBS contract keeps a running balance of EXP per depositing address.
After the user deposits EXP into the EBS contract they can swap their EXP for EBS tokens at a rate of 100 EXP per 1 EBS by using the contracts “buy” method. The contract is designed to securely store a user's EXP for a minimum of 90 days and a Maximum of 180 days. While the EBS token is active, the user earns 1 EXP per 30 days.
Coupon redemption is the act of earning one's reward for saving their EXP in the EBS contract. A redemption can happen every 30 days from the last redemption. If you missed a coupon redemption it's ideal to wait until the 60 day mark to redeem the next coupon because if you wait 45 days to redeem your first coupon, the next redemption will be 30 days from that point. But if you wait till the 60 day mark then you will earn both past redemptions.
Also, after 90 days, if you decide to redeem your coupon it will automatically redeem your bond. So at max you get 3 coupon redemptions. The first and second redemption is essentially “free” while the third closes the bond and credits your balance with its cost. You can choose to ignore the third redemption for a period of 90 more days, and earn extra coupons.
When one redeems their EBS token, they get their full 100 EXP back. Most of the time this is done automatically by the coupon redemption process.
In the contracts next iteration we are going to make some improvements.