Redeem

Convert NEB to esNEB Instantly, Redeem esNEB to NEB Through Flexible Vesting.

Redeem

The Redeem mechanism governs the conversion between NEB and esNEB.

• NEB → esNEB: NEB can be converted to esNEB at a 1:1 ratio instantly at any time. Converted esNEB is primarily used for staking (Worker Nodes, Verifier Nodes), delegation, and participation in other incentive modules within the Nebulai ecosystem.

• esNEB → NEB: esNEB can be redeemed back into NEB under different vesting periods (30, 90, or 180 days), each with a different release ratio. The unredeemed portion of NEB is injected into the Redemption Vault, rewarding Vault stakers and 180-day vesting participants.

Redemption Ratios

Vesting Period	Released as NEB	Sent to Redemption Vault
30 Days	30%	70%
90 Days	60%	40%
180 Days	100%	0%

180-Day Vesting Benefits

Choosing the 180-day vesting option provides the highest benefits:

• 100% NEB release ratio.

• The corresponding esNEB is treated as auto-staked in the Redemption Vault, generating continuous Vault Shares throughout the vesting period.

• Vault rewards remain active until the user claims their vested NEB or Vault rewards.

• If claimed only after the 180-day vesting ends, all accumulated NEB and Vault rewards are distributed together, with no further Vault Shares generated thereafter.