BPES - Bonds Mechanism
The fundamental purpose of Pegasus Bonds (BPES) is to incentivize fluctuations in PES supply throughout epoch growth and contraction.
When PES's TWAP (Time Weighted Average Price) goes below 1 METF, BPES is issued and can be exchanged with PES at the current price.
PES tokens are burned when they are exchanged for BPES tokens, removing them from circulation (deflation) and assisting in the return of the price to 1 METF.
These BPES can be redeemed for PES at a future date if the price is above the peg, with a bonus if they are held above the peg for a longer period of time.
When the PES goes above the peg, this results in inflation and sell pressure, which helps to push it back toward 1 METF.