The Seven Wonders of MITH Cash V2: Day 5 — The End of an Era- Bonds (MIB) will Stop Being Issued 1/31 0200 UTC

2 min readJan 29, 2021

Termination of MIB issuance: 1/31 UTC 0200

As announced yesterday, Mithril Bonds (MIB) will be redeemable at a 1 MIB : 1 MIC V2 ratio during MIC V2, subject to taxation on withdrawals.

Currently, MIB is available at a steep discount, offering a 250% return upon redemption for MIC V2. As a precursor to the migration, and to avoid issuing excessive amount of bonds, MIB issuance will end at 0200 UTC on Jan 31. No new bonds will be issued after that time, as V2 will use a different set of mechanisms and incentives to discourage selling below peg.

The relevant transactions have been queued and will be implemented after the 48 hour timelock has completed.