Bond Serial Number & Important Terms
Last updated
Last updated
Every Redemption bond has a serial number on it that is the unique identity of every bond.
(Bond Series) (Bond denomination) (4 digit serial Number)
(A) (100) (6917)
In the example given above,
“A” depicts that it’s the Series A of the bond.
“100” states that it is a 100 Denomination Bond.
While the 4 digit number “6917” is actually the unique serial number
On your Bond, the serial number (used in the above example) will look like this:
A1006917
If your serial number matches the winning number drawn at the lucky draw, you win.
Bonds Series: Series means the number of lucky draws happening in a particular time. For instance, the Redemption bond of 100 Denomination has 4 series per month. It means that there are 4 lucky draws every month While the Bond of 10,000 has 1 series every 3 months. It means that there is 1 lucky draw every 3 months.
Each Redemption bond series is designed in a way that it has only one chance of being in a lucky draw at a monthly scale. Smaller denomination bonds have a higher frequency of lucky draws in any given month.
Issuing Date: Issuing date is the date from which the issuance of bonds for a particular series of bonds starts. You can purchase your bonds from the issuing date till the locking period starts.
Locking Period: Locking period is the time duration after issuance of bonds and before the lucky draw during which the sale or transfer of a bond makes it ineligible for winning the prize, even if its number is successfully drawn from a VRF function.
Holding Period: The holding period is the time duration after the issuance of bonds and before the maturity of the 3 to 12-month period (as chosen by the bondholder) during which you have to hold your bond to get APR.
Note: The key difference between Locking and the holding period is that during the locking period, you have to hold your bond till the lucky draw to be eligible for the lucky draw prize. While in the case of a holding period, you have to hold your bond from the date of issuance till the maturity date of the bond to get APR.
Lucky Draw Date: It is the date when the lucky draw happens and the winner gets the reward. After this date, you can sell your bonds if you do not win.
