LEEQUID
  • 👋 Welcome
  • Navigating LEEQUID
    • 🌱 Staking
      • The staking protocol
      • Matching stake to unstake requests
      • Potential wait times while staking
      • Deposited LYX lifecycle
      • Importing sLYX to your wallet
    • 🍇 Collecting rewards
      • Reward distribution in the LEEQUID protocol
      • Auto-compounding
      • Withdrawing rewards
      • Reward calculation in Proof of Stake
    • 🍂 Exiting the protocol
      • Option 1: swapping sLYX for LYX
      • Option 2: unstaking through the staking pool
      • Matching unstake to stake requests
      • Potential wait times while unstaking
    • 🍷 Claiming
      • Claim queued stake
      • Claim unstaked LYX
      • Claim rewards
    • 🔄 Swapping
      • LYX for sLYX: An instant alternative to staking
      • sLYX for LYX: an instant alternative to exiting
      • Providing liquidty
      • Providing Liquidity: a practical example
  • LEEQUID in depth
    • 🔐 Protocol security and risks
      • Security overview
      • Smart contract code correctness
      • Slashing and unexpected validator behaviour
      • sLYX token: economic balance
      • Validator key management
    • 📃 Smart contracts
      • Oracles
      • Merkle Distributor
      • Rewards
      • Pool
      • StakedLyxToken
      • FeesEscrow
    • 💧 The sLYX token
      • Acquiring sLYX
      • 1:1 ratio with LYX
      • Potential unpeg of sLYX from LYX
    • 💦 The liquidity pool (DEX)
      • Implementation
  • Incident Response
    • Contacts
    • Vulnerability Disclosure Policy
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  1. Navigating LEEQUID
  2. 🍂 Exiting the protocol

Option 1: swapping sLYX for LYX

Last updated 1 year ago

Any time a user wants to redeem his position in the LEEQUID protocol, he can do so either by swapping his sLYX tokens for LYX or initiating an unstake request.

The advantage of swapping is that it is an instant process, thus making the sLYX token as liquid as it can be. However, an exact 1:1 ratio between sLYX and LYX is not guaranteed and a liquidity provider fee will be deducted from the value to withdraw. We recommend reading the section aboutbefore using the liquidity pool to redeem sLYX.

swapping