Escrowed 1PERP
Last updated
Last updated
When you stake your valuable , you receive an equivalent amount of escrowed 1PERP, abbreviated as $es1PERP, which holds equal worth to . However, there's a twist – these es1PERP tokens undergo a 12-month vesting period, a gradual transformation from potential to realized value.
But what's the purpose of these es1PERP tokens? They serve a dual role:
Stake for Rewards:
Just like your regular , you can stake es1PERP to reap the same enticing rewards.
Vesting for Realization:
es1PERP can be converted into real by successfully completing the vesting process within a year.
Note: Transferring es1PERP should be reserved for comprehensive account transfers.
The Vesting Process:
As your es1PERP tokens are in the vesting stage, a portion of your or tokens are set aside as reserves for es1PERP rewards.
The specific amount to lock varies based on your account, with limits in place to safeguard earned incentives. It's advisable not to vest es1PERP acquired from the market.
During the vesting period (365 days), unstaked es1PERP tokens won't earn rewards. However, rewards persist for staked tokens that are yet to fully vest.
The magical transformation of es1PERP into takes place continuously, with each passing second during the vesting period.
Ultimate Flexibility:
The beauty of this process lies in its flexibility – you have the freedom to convert your es1PERP to at any moment.
Plus, you can claim your vested derived from es1PERP whenever you see fit.