đ ī¸Vest esETR
Convert esETR to ETR
You have two options for handling your esETR rewards:
Stake them to earn rewards similar to ETR tokens using the 'Compound' function or by directly staking them under the "Escrowed ETR" section.
Vest them to transform them into real ETR tokens over a period of 365 days.
Purpose of vesting esETR
You can transform non-transferable esETR tokens into transferable ETR tokens by engaging in a year-long vesting process.
Vesting vaults
Because both ELP liquidity providers and ETR stakers receive esETR rewards, there are two separate vesting vaults:
ETR vault: This vault is for esETR tokens earned through ETR staking.
ELP vault: This vault is for esETR tokens earned by providing liquidity to the USDC Vault (ELP tokens).
You can choose the suitable vault and start vesting!
ETR Vault
For the ETR vault, you will see the following information:
Staked tokens: The total amount of ETR, esETR, Multiplier points that you are staking.
Reserved for vesting: The total amount of ETR, esETR, Multiplier points that you are reserving for vesting / the total amount of ETR, esETR, Multiplier points that you are staking.
Vesting status: The amount of esETR tokens that have been converted to ETR/ the amount of esETR deposited into the ETR vault for vesting.
Claimable: The amount of ETR tokens that have been converted from esETR, you can claim ETR under the "Total rewards" section.
Deposit esETR in ETR Vault
Click "Deposit" on the "ETR vault" section.
In the pop-up that appears, enter the amount of esETR you want to convert into ETR.
Click "Deposit"
Confirm transaction.
Note: For your first deposit of the specific asset on Ethora, the deposit form will request permission to utilize your tokens. You will need to click "Approve" for this transaction, but this authorization is only required for the initial deposit. If you decide to revoke this authorization later, you will have to approve the use of your tokens again during subsequent deposits.
ELP Vault
In the ELP Vault, you will see the following information:
Staked Tokens: total amount of ELP that you are staking in the USDC vault.
Reserved for vesting: total amount of ELP that you are reserving for vesting/ total amount of ELP you are staking.
Vesting status: The amount of esETR tokens that have been converted to ETR/ the amount of esETR deposited into the ELP vault for vesting.
Claimable: The amount of ETR tokens that have been converted from esETR, you can claim ETR under the "Total rewards" section.
Deposit esETR in ELP Vault
Click "Deposit" on the "ELP vault" section.
In the pop-up that appears, enter the amount of esETR you want to convert into ETR.
Click "Deposit"
Confirm transaction.
Note: For your first deposit of the specific asset on Ethora, the deposit form will request permission to utilize your tokens. You will need to click "Approve" for this transaction, but this authorization is only required for the initial deposit. If you decide to revoke this authorization later, you will have to approve the use of your tokens again during subsequent deposits.
How does reserving work?
After confirming the transaction, your esETR tokens will start vesting over a one-year period. During this vesting period, the average amount of ETR or ELP tokens that were used to earn your esETR rewards will be reserved.
Here's an example to illustrate this: If you staked 5000 ETR tokens and earned 500 esETR tokens, then to vest those 500 esETR tokens, 5000 ETR tokens will be reserved. Note that this is just an example, and the actual ratio will depend on your account's average staked amount and rewards earned. If you sell your ETR or ELP tokens and want to vest your esETR rewards later, you'll need to buy those ETR or ELP tokens again. This way, you'll have the tokens needed for your vesting process.
It's important to mention that esETR tokens that have been unstaked and deposited for vesting won't earn rewards. However, ETR or ELP tokens that are reserved for vesting will continue to earn rewards.
Claim ETR
As the vesting begins, your esETR tokens will be gradually converted into ETR tokens over 365 days, with a conversion taking place every second. These ETR tokens can be claimed at any time. You can do this by select "Claim" button under the "Total rewards" section.
Withdraw esETR
Tokens reserved for vesting, whether they are ETR or ELP tokens, cannot be unstaked or sold. If you want to unreserve these tokens, you should use the "Withdraw" button under the ETR Vault or ELP Vault.
It's important to note that partial withdrawals are not an option. When you initiate a withdrawal, it will unreserve all your tokens and temporarily pause the vesting process of your esETR tokens. However, any esETR tokens that have already vested into actual ETR tokens will remain as ETR tokens.
If you wish to explore the detailed formulas for the fields on the Earn page, navigate to the Earn Formulas page.
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