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$esKTC
$esKTC is similar to $KTC tokens, the only difference is it cannot be sold until it is converted to actual $KTC tokens which is unlocked linearly over one year.
$esKTC can be utilised in two ways:
- Staking pool: Used to further compound your rewards to earn the same rewards as staked $KTC for fees, $esKTC tokens and multiplier points which compounds rewards and incentives.
- Vesting Vault: Vested linearly to convert and distribute actual $KTC tokens over a period of one year.
To convert $esKTC into $KTC tokens, $KTC/$KLP tokens that were used to earn the $esKTC rewards need to be staked with the $esKTC. Vesting will occur every second and will fully complete after a duration of 12 months.
📝 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 7d ago