Global settlement provides the ability to settle the VolmexProtocol
contract at a specific price, settlementPrice
. Once the settle
function has been executed by the volmex.finance core multi-sig, the redeem
function is disabled and the redeemSettled
function is enabled. At this point, Ethereum Volatility Index Tokens (ETHV) (or other volatility tokens) are redeemable for the settlementPrice
. Conversely, the Inverse Ethereum Volatility Index Token (iETHV) would be redeemable for the amount of collateral required to mint one of each token less the settlementPrice
.