currently xBonds demand users to claim rewards every rebase. This is gas intensive and only benefits users who are able to claim larger amounts of USDx.
Pros: helps increase xBond - USDx ratio, which makes it more attractive to mint xBonds during negative rebase
Cons: potentially more expensive to users with low ownerships.
On the other end of the spectrum are users who want to liquidate all of their xBonds in one go. This defeats the purpose of xBond, which is suppose to be a longer term instrument that pays out users handsomely (40%) gradually.
An interesting compromise is to potentially allow rewards to accrue during positive rebases so smaller actors can wait a few days to claim.
If you think about the economics, larger xBond holders see no difference as they already consistently redeem during positive rebases. Smaller xBond holders may see some benefit as they can now redeem their rewards, and not necessary increase the sell side pressure as much.
Technically speaking, this is doable by summing up the initial claimable every day to the previous days claimable balance, such that every day, the total claimable is all the previous days reward plus the current day’s reward.
Users can also have the option to rebond (which basically means re-bonding their allocation, and lowering the total claimable rewards). The benefit of this is maintaining the high ratio of xBond - USDx.
This is all preliminary discussion and we’d be interested in finding a good compromise. That being said, a few higher things on the agenda including full decentralization