> For the complete documentation index, see [llms.txt](https://nemesisdao.gitbook.io/whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://nemesisdao.gitbook.io/whitepaper/basics/bonding/bonding-types.md).

# Bonding Types

**Nemesis PRO offers 3 different types of bonds for different scenarios and approaches, which are Stable Bonds, Liquidity Bonds, and Auctioned Bonds.**<br>

### Stable Bonds

Stable bonds sell NMSP at a discount (as it can mint NMSP through contract) to acquire treasury reserve assets. Bonding may therefore be preferable to purchasing NMSP on the market and staking when a favorable discount exists.

Stable Bonds serve as a two-way stabilizer as these reserves ensure the 90-day movement average stability ([See Range Bound Stability here.](broken://pages/W1xvCUekVER6neCVcKFb)) by accumulating treasury reserves and using them to stabilize the price in both situations. Accumulated funds will also be utilized via [Automated Buyback](/whitepaper/features/auto-buyback-system.md) and [Liquidity Management System](/whitepaper/features/liquidity-management-system.md) to support NMSP price continuously.

\
USDC / Vesting Time: 10 days\
USDT / Vesting Time: 15 days\
BUSD / Replaced with USDC<br>

### Liquidity Bonds

Liquidity Bonds are comparable to Stable Bonds, with the exception that they bond via Liquidity Provider (LP) tokens provided by an AMM. These bonds are utilized when additional liquidity is required.\
\
NMSP/BUSD LP / Currently Disabled<br>

### Auctioned Bonds&#x20;

Contrary to other bonds, rewards distributed by [Auction Bonding](/whitepaper/basics/bonding/auction-bonding.md) aren’t minted. Auctioned Bonds use excess NMSP tokens and other stable reserve assets in Treasury to help keep price stability in check. ([RBS](broken://pages/W1xvCUekVER6neCVcKFb))

#### Auction Bonding

[The Auction Bonding](/whitepaper/basics/bonding/auction-bonding.md) initiates if the NMS Price persists above the 90-day moving average for 72 hours and the treasury reward forecast has excess NMSP tokens. \
\
In Auction Bonding, participants bid BUSD to earn NMSP with a 10% bidding fee.\
All of the BUSD from fees accumulates in the treasury.

{% hint style="danger" %}
After the 72-hour period, while being above the 90-day price average, initiation happens manually by the team.
{% endhint %}

#### Reverse Auctions

[The Reverse Auction Bonding](/whitepaper/basics/bonding/reverse-auctions.md) initiates if the NMSP Price persists below the 90-day price average for 72 hours and the treasury reward forecast has excess BUSD tokens. \
\
In Reverse Auction, participants bid NMSP to earn BUSD. \
50% of the accumulated NMSP is burned, and the remaining 50% goes to the treasury.

{% hint style="danger" %}
After the 72-hour period, while being above the 90-day price average, initiation happens manually by the team.
{% endhint %}