sLYX for LYX: an instant alternative to exiting

Instead of exiting the LEEQUID protocol through the staking pool, users are presented with the option of instantly swapping their sLYX for LYX coins. The two operations are equivalent as they both have the outcome of reducing a user's balance of sLYX and increasing the balance of LYX in the user's wallet.

However, if it is true that one always gets a 1:1 ratio by exiting through the staking pool, the same is not the case with swapping through the liquidity pool. The amount of LYX returned will vary according to the current ratio of the pool and can be higher or lower at a given time. On the other hand, swapping is instant as it dodges any of the exiting waiting periods.

There is a 0.3% fee on every swap made through the LEEQUID liquidity pool. This fee is called the "Liquidity Provider fee" and is evenly distributed between users who provide liquidity for the LYX/sLYX token pair.

When a user decides to swap, the sLYX to LYX ratio will be close to, but not exactly 1 to 1. Either the swap will occur at a slight profit or a slight loss. The total amount of LYX obtained from the swap will depend on:

• the amount of sLYX being swapped in the transaction (the volume of the transaction)

• the current ratio of the pool

• the amount of liquidity in the pool

• the swap fee (0.3%)