Bonds
Forward specification
This page describes the intended design, not shipped software. The only behaviour live on-chain today is synthetic position creation. The $GAUGE token, bonds, staking, liquidity pools and mining, trading, liquidation, and oracle mechanics described across these pages are specified but not built or deployed. See Technical overview.
Bonds let the protocol acquire its own liquidity. You lend accepted capital to GAUGE and, in return, receive $GAUGE at a discount that vests over a maturation schedule rather than all at once.
- Lend capital to open a bond position.
- Vest your discounted $GAUGE across the maturation schedule.
- Claim matured $GAUGE as it unlocks.
A bond is a one-way trade: once opened it cannot be cancelled, and the discount is fixed at the moment you lend. The capital you lend goes to protocol-owned liquidity, not to a counterparty.
In this section
- Lending capital · open a bond, step-by-step
- Bond maturation schedule · how the $GAUGE vests
- Claiming bonds · collect the vested portion