The bonds are issued at a 60% APY. There will likely also be a secondary market. After the conclusion of issuance, bond prices will solely be determined by the market. If the market is efficient, prices of zClay denominated in Clay on the secondary market would be expected to be the same as the daily issuance price and continue to decline at the same rate shown here once issuance has finished after 1 year. The price should reach almost 1:1 on the final day before maturation.