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$esKTC
How does $esKTC work...
- During the vesting period of 12 months, the $esKTC tokens and the paired tokens used to earn them cannot be unstaked or sold.
- To convert $esKTC into $KTC tokens, the paired tokens that were used to earn the $esKTC rewards need to be staked with the $esKTC. The vesting occurs every second and fully completes after 12 months.
- The portion of $esKTC that has been converted into $KTC tokens can be claimed anytime during the vesting period.
$esKTC tokens are similar to $KTC tokens, with the only difference being that $esKTC tokens cannot be sold until they are converted to actual $KTC tokens. This conversion process occurs linearly over one year, meaning that the $KTC tokens will be unlocked gradually over time.
$esKTC tokens have two use cases on KTX.Finance:
- 1.Staking pool: $esKTC can be used to stake and earn rewards such as $KTC tokens, $esKTC tokens, and multiplier points. By staking $esKTC, users can compound their rewards and earn the same rewards as staked $KTC tokens.
- 2.Vesting Vault: $esKTC tokens are vested linearly over a period of one year to convert and distribute actual $KTC tokens. Users can convert their $esKTC tokens to $KTC tokens gradually over time and receive them at regular intervals.
To convert $esKTC into $KTC tokens, you need to stake $KTC or $KLP tokens with the $esKTC. The amount of $KTC or $KLP tokens you need to stake depends on how much $esKTC you earned and the average staked amount on the platform.
Vesting of $esKTC tokens into $KTC tokens happens gradually every second over a period of 12 months. This means that you will receive a portion of your $KTC tokens each second until the 12-month period is complete.
📝 Example:
In the scenario where a user owns 100 $KTC and earns 10 $esKTC over one month. To convert the 10 $esKTC into 10 $KTC tokens, 100 $KTC tokens need to be staked with the 10 $esKTC.
Note that this is an example and the actual ratio depends on the average staked amount and rewards earned for your account.
At anytime during the vesting, the portion that has been converted into $KTC tokens can be claimed anytime. $esKTC and the paired tokens that are reserved for vesting cannot be unstaked or sold. To remove the tokens from the Vesting Vault, use the “Withdraw” button on the Earn page.
Partial withdrawals are not supported, so withdrawing will withdraw and remove all tokens as well as pause the vesting conversion.
$esKTC tokens that have been unstaked and deposited for vesting will not earn rewards. Staked tokens that are reserved for vesting will continue to earn rewards.
$esKTC Token Distribution
$esKTC rewards will account for 30% of total $KTC supply.
$esKTC will be distributed to staked $KTC and $KLP according to community vote. Rewards are distributed every second to staked tokens.
Reward rates will be evaluated each month and may be subjected to changes. Any modifications will be announced at least 7 days in advance before being implemented.
Last modified 14d ago