BDOT is a tokenized asset representing the staked DOT in the DOT Slot Auction, convertible to DOT at a 1:1 ratio. During the lease period, which may take 96 weeks or even longer, users will not be able to redeem their DOT. As such, we have issued BDOT and launched the BDOT/DOT trading pair to provide users with a liquidity solution. When the DOT lease period ends, users will be able to convert their BDOT to DOT at a 1:1 ratio based on their BDOT holdings.