🛡️Safety Net

🙋 Get a Safety Net

When you buy Boomerang on our Buy widget on the website, a Safety Net is automatically included with your purchase. You don't need to understand all the details; you're protected by default. More information can be found in the Buying chapter.

💠 Anatomy of the Safety Net

Purchasing Boomerang through our website automatically activates a Safety Net on the blockchain, which includes:

  • Claim Threshold:

    If Boomerang's price falls below this threshold, you can claim your Safety Net. You'll receive the locked value, which is half of your original purchase value.

  • Claim Value:

    This is the fixed value of your Safety Net, always set at half of your purchase. When claimed, this value is paid out automatically, along with the value of the related coins.

  • Residual Value:

    Upon claiming your Safety Net, the related coins are automatically sold for you. The proceeds, determined by Sushi Swap at that moment, are yours.

  • Expiration Rate:

    Your Safety Net expires when Boomerang's price hits a certain threshold, typically when your coins are worth more and the Safety Net is no longer necessary.

  • Ownership:

    The Safety Net belongs to you, the owner. You have the right to claim it or let it expire by transferring the associated funds.

💸 Claiming the Safety Net

When the original price of Boomerang drops below 50%, the Safety Net becomes claimable. Here's what happens:

  • You receive the locked value of your Safety Net, usually in a stable currency like USDT, which amounts to 50% of your original purchase value.

  • The related coins are sold on the market, typically through Sushi Swap. You receive the proceeds from this sale, which may be up to 50% of your original purchase value.

  • In total, you can receive up to 100% of your original purchase value back.

🏁 When Safety Nets expire

A Safety Net expires automatically in certain scenarios:

  • When the price of Boomerang reaches 125% of your purchase price.

  • If you sell your Boomerang coins through our Sell page or on Sushi Swap.

  • When you transfer all or part of the funds related to the Safety Net to another wallet, due to technical constraints and limitations.

  • When a Safety Net expires, the Bank uses the associated funds to help stimulate the market.

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