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Converting $BPET to $XPET
xPet.Tech's conversion system provides users with a straightforward way to switch between $XPET and $BPET assets. Here's how it works:
Converting $BPET to $XPET:
The conversion system in xPet.Tech allows users to easily convert $BPET to $XPET tokens.
Managing Daily Allocations and Preventing Inflation
Every day, a specific supply of $XPET is allocated to support the conversion of $BPET to $XPET. (Refer to the Revenue Sharing section for more information.)
To control the supply of $XPET released into circulation and prevent long-term inflation of the $XPET currency, we must tightly design all actions related to introducing additional $XPET into circulation. Since the allocated amount of $XPET for withdrawal through the conversion mechanism is fixed daily, while the user demand is dynamic, we will implement a queuing mechanism for those wanting to convert $BPET to $XPET.
Queue System and FCFS Mechanism
Each user can only execute a conversion order of 100 $BPET at a time. After their withdrawal order is completed, they can place another conversion order. Each user placing a conversion order is considered to be in the queue. The larger the queue, the longer the number of days it may take to receive the $BPET tokens. This follows the First Come First Serve (FCFS) mechanism widely applied in the crypto market.
This functionality provides flexibility in managing your digital assets. You can convert $BPET to $XPET whenever you want, or you can directly sell $BPET on decentralized (DEXs) or centralized exchanges (CEXs).