# Vesting Type and Duration ### **Vesting Type and Duration Selection** Issuers can choose between two distinct vesting types to tailor their bond programs: #### **Fixed-Term (Instant, 7d, 14d, 28d, Custom Length)** With Fixed-Term Bonds, bonders are provided an ERC1155 token representing their position and the underlying token is claimable after the chosen duration. Essentially, fixed-term bonds spread emissions across time. If a specific or longer period is required, issuers can opt for "Custom" and then set the desired duration up to a maximum of 270 days within the UI. #### **Fixed-Expiry (Custom Date)** Fixed-Expiry Bonds vest at a predetermined date or timestamp, granting bonders an ERC20 token to represent their position. Fixed-expiry bonds operate similar to cliff-style vesting. When using the Bond Protocol frontend, fixed-expiry bonds must have a minimum of 3 days vesting and a maximum of 270 days vesting. ### **Short-Term vs Long-Term** #### **Short-term bonds** span less than a month (7 days, 14 days, or 28 days) * Ideal for swift asset acquisition, often at a relatively smaller discount compared to long-term bonds. * Offers bonders their vested payout asset within a shorter time frame. * Well-suited for projects with active liquidity mining programs, allowing a quick exit for LPs due to shorter vesting periods. * Effective in managing emissions by gradually distributing rewards to the bond program, preventing abrupt liquidity declines. #### **Long-term bonds** extend beyond two months (3 months, 6 months, or 9 months) * Defers vesting to extended horizons, potentially demanding higher initial discounts compared to short-term bonds. * Appeals to long-term aligned token holders and community members, providing an opportunity to acquire governance tokens at discounted rates. * Ideal for treasury diversification, delivering stable assets upfront for operational expenses or growth initiatives. * Requires more consideration regarding future token claims and potential higher initial discounts. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.bondprotocol.finance/products/permissionless-bonds/issuers/vesting-type-and-duration.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.