Diagram: Leasing Emblems
Leased Emblems, displayed as “L-EMB” on the Overline App, are a new token (ERC721) that acts as a contract for ownership of a correlating Emblem. L-EMBs are created in the process of an Emblem owner deciding to sell their EMB utility through a lease.
Once executed by its owner, the Emblem Lease contract transfers ownership of the correlating EMB to the owner of the Leased Emblem for a pre-set duration. During that duration, owners can take advantage of the mining utility functionality. L-EMBs exist for durations of 6, 12, and 24 months. After the L-EMB duration, the control over the original Emblem will be returned to its original owner. As an owner of L-EMB, you can execute any number of Emblem Leases that you own at any time within their set duration.
How Can I Get L-EMB?
Emblem Leases can be bought and sold on the Overline App or any decentralized exchange that uses the Overline network or a Super Collider. They can also be transferred to a different address without needing to buy or sell it, as it is a ERC721 token and on the Ethereum network.
Flow Chart of L-EMB Transaction
Updated over 1 year ago