(Deprecated on 28th Aug, 2025) ~~xHONO to HONO~~

~~xHONO to HONO Conversion~~

~~Users can convert xHONO to HONO on a 1:1 basis, depending on~~ ~~availability in the xHONO conversion pool~~. ~~A 2.5% fee in ETH, calculated based on HONO's backing price, is charged for each conversion.~~

~~For example, if a user wants to convert 1 xHONO to HONO and the backing price of HONO is $10, they would need to pay an additional fee of $0.25 (2.5% of $10). This fee is collected by the protocol’s revenue contract.~~

~~What is the xHONO Conversion Pool?~~

~~A portion of the revenue generated by the protocol is used to mint HONO, which is deposited into the xHONO conversion pool. xHONO holders can convert xHONO to HONO at a 1:1 ratio as long as HONO is available in this pool.~~

~~Limits:~~

* ~~The xHONO conversion pool has a maximum cap of 500,000 HONO.~~
* ~~Each conversion incurs a 2.5% fee in ETH, based on the backing price at the time of conversion.~~