Rewards
Innovating DeFi for all; Built for the future
Elys is built on the principles of sustainability that will ultimately shape the new era of DeFi. The platform will generate non-inflationary yield from multiple sources, which will be distributed in USDC via participant rewards to the network participants. All participants in the network, including Liquidity Providers, Node Operators, Delegators, and the protocol itself have clear paths to long-term value accrual via sustainable rewards mechanism.
In the initial phase of liquidity bootstrapping, inflationary ELYS rewards will be distributed in the form of EDEN and EDEN-Boost. These rewards will be given to both stakers and liquidity providers. The allocations of such inflationary rewards are clearly outlined in the Token Distribution document.
EDEN
EDEN is a vesting ‘inflationary reward’ token that is earned by both stakers & liquidity providers. After earning EDEN, a user can choose to do the following with it:
'Claim it'. Once claimed, the EDEN is accounted for in a user's wallet and further actions listed below can be performed.
‘Commit it’ to the network. Committed EDEN earns the same rewards as 'staked' ELYS. This is a means to compound the EDEN rewards. A user can un-commit their EDEN at any time. The un-committing process is immediate ( no un-bonding period). Once a user uncommits their EDEN, they can then choose to do any of the options with it (ie: vest it or re-committ it).
‘Vest it’ for ELYS. If a user chooses to vest EDEN for ELYS, EDEN will vest linearly over a 90 day time period. During the vesting process, the vesting EDEN is burned. After the vesting process is initiated, the corresponding EDEN is locked and vests linearly into ELYS at a 1:1 ratio, over a 90 day time period. When EDEN is in the vesting process, by definition it is not committed, which means that vesting EDEN will not earn any additional rewards. Every pre-defined number of blocks, an amount of EDEN is ‘vested’ into liquid ELYS that will automatically deposit in user wallets and do what they want with. A user may choose to cancel the vesting at any point during this time.
EDEN-Boost
EDEN-Boost is a multiplier token that is earned while ELYS is ‘staked’ or EDEN is ‘committed’. Its purpose is to reward long-term users.
The APR for at which EDEN-Boost is earned is 100%. EDEN-Boost can also be ‘committed’ further to earn additional EDEN. EDEN-Boost is a way to multiply the rewards for staking ELYS or ‘committing’ EDEN for a longer period of time. Boost % = (EDEN-Boost Earned)/( ELYS staked+ EDEN ‘committed’)
If ELYS is unstaked or EDEN is ‘un-committed’ then EDEN-Boost is burned ( both ‘committed’ and ‘uncommitted’) in proportion to the amount of ELYS unstaked or EDEN ‘un-committed’.
Distribution
All rewards will be distributed every 'n' seconds ( 'n' will be adjusted to improve the efficiency of the platfrom). The rewards from various sources of the dex will be collected and sent to a fee wallet from which all distributions shall be made to the different recipient based on pool share.
EDEN will be distributed according to a set schedule clearly outlined in the Token Distribution document.
Summary
Staked ELYS and Committed EDEN: Earn 30% dex rewards (USDC), earn EDEN, earn EDEN-Boost
Committed EDEN-Boost: Earns EDEN
Committed Liquidity Pool (LP) Tokens: Earn 60% dex rewards (USDC), earn EDEN
Elys Protocol: Earns 10% dex rewards (USDC)
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