Vesting
$esBLU can be vested into $BLU through depositing into BLU Vault or BLP Vault.
The vesting process will happen linearly on a daily basis over the course of a year. When vesting is initiated, the initial amount of $BLU that was used to earn the $esBLU rewards will be reserved.
If you do not have enough $BLU/$BLP to be reserved, you’ll either have to reduce the number of $esBLU you want to vest, or purchase more $BLU/$BLP to initiate the vesting process..
For example, if you earned 1000 $esBLU by staking 10000 $BLU, then 10000 $BLU will be reserved to vest 1000 $esBLU.
How to convert esBLU to BLU
Go to "Vest" page
Select BLU or BLP Vesting Vault
Enter the esBLU amount you would like to convert
Review the minimum BLP/BLU reserved amount required to initiate vesting
Review daily BLU vesting rate and total receivable amount in 365 days
Click Confirm to start vesting
Vault Capacity and Reserve
Vault Capacity and Reserve amount are two different concepts.
Vault Capacity means how many esBLU can be deposited in this vault for vesting.
Reserve amount means how many staked esBLU/BLU/BLP will be reserved for esBLU vesting.
Example 1
Base on your reserving amount, you can vest 100 esBLU
Base on your Vault Capacity, you can vest 90 esBLU
Then converting power will be 90 esBLU
Example 2
Base on your reserving amount , you can vest 90 esBLU
Base on your Vault Capacity, you can vest 100 esBLU
Then converting power will be 90 esBLU
The actual Reserve Required is depending on your average staked amount and cumulative rewards earned.
There is no locking period on staked $BLP/$BLU, but for user who wants to vest their earned $esBLU from staking $BLU, they will need to maintain certain amount of reserved $BLU. The reserved amount will be based on token amount, the price of staked token will not affect vesting process as long as users have sufficient reserved token amount.
With the principle above, as long as a user has never sold any of their initial $BLU, they will have sufficient $BLU to be reserved for vesting purposes.
Staked tokens that are reserved for vesting will continue to earn rewards. $esBLU that have been unstaked and deposited in vault(s) for vesting will not be earning staking rewards.
$esBLU which has been locked in the vault can be withdrawn at any point of time. However, partial withdrawals are not supported, so withdrawing will withdraw and unreserve all tokens as well as pause vesting. All $esBLU tokens that had been vested into the $BLP/$BLU vaults will remain as $BLU tokens.
Vesting Style
Per second linear, 12 Months
Reserved Tokens
Average amount of token that earned the $esBLU rewards will be kept in reserve during the vesting period
Users need to have a certain amount of token in order to vest their $esBLU
Users who have sold their tokens have to buy the required amount back if they wish to vest
Reserved tokens will continue earning rewards, but cannot be withdrawn
esBLU vest to BLU per day = total token / 365
Duration (Days to vest all esBLU in vault) = unconverted esBLU to BLU per day
Depositing more in vault would update the current vesting speed.
Claiming the vested BLU will not affect the current vesting speed.
Below are some example scenarios for vesting:
1. If you claim your BLU during vesting period
The speed or duration will not be changed
Day 1: stake 365esBLU to vest, receive 1 BLU per day
Vesting speed = 365 esBLU/365 days = 1 BLU per day
Day 10: claim 10 BLU to wallet
Convert 10 esBLU to 10 BLU, 355 esBLU left
To vest amount = 355 esBLU
Vesting duration left = 355 days to vest remaing 355 esBLU
2. If you deposit more during vesting period
Both speed and duration will change
Day 1: stake 365esBLU, receive 1 BLU per day
Vesting speed = 365 esBLU/365 days = 1 BLU per day
Day 10: Deposit additional 10 esBLU
Tokens in vault = 375 esBLU
Incorporate an update from the newly added 10 esBLU
Vesting duration left: unconverted esBLU / BLU per day = 355
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