Tethys Perpetual rewards provide benefits for long term users of the protocol, these rewards come in the form of Escrowed TETHYS, METIS and Multiplier Points.
Claiming will transfer any pending Escrowed TETHYS rewards and METIS rewards to your wallet.
If you compound or stake your Escrowed TETHYS tokens, you can unstake them for vesting at anytime later on.
Escrowed TETHYS (esTETHYS) can be used in two ways:
- 1.Staked for rewards similar to regular TETHYS tokens
- 2.Vested to become actual TETHYS tokens over a period of one year
Each staked Escrowed TETHYS token will earn the same amount of Escrowed TETHYS and METIS rewards as a regular TETHYS token.
Note that Escrowed TETHYS (esTETHYS) is not meant to be transferrable unless you are doing a full account transfer. The amount of TETHYS or TLP required to vest esTETHYS is unique per account and capped to the rewards received by that account. Please do not buy esTETHYS off the market or OTC as you will not be able to vest them.
When vesting is initiated, the average amount of TETHYS or TLP tokens that was used to earn the esTETHYS rewards will be reserved.
For example, if you staked 1000 TETHYS and earned 100 esTETHYS tokens, then to vest 100 esTETHYS tokens, 1000 TETHYS tokens will be reserved. To vest 50 esTETHYS, 500 TETHYS tokens will be reserved. Note that this is an example and the actual ratio depends on the average staked amount and rewards earned for your account.
esTETHYS 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.
After initiating vesting, the esTETHYS tokens will be converted into TETHYS every second and will fully vest over 365 days. esTETHYS tokens that have been converted into TETHYS are claimable at anytime.
If a user sells TETHYS or TLP tokens and would like to vest their esTETHYS rewards later on, they would need to re-buy the TETHYS or TLP tokens. TETHYS, esTETHYS and Multiplier Points can be used interchangeably for the required reserve amount.
Depositing into the vesting vault while existing vesting is ongoing is supported.
Tokens that are reserved for vesting cannot be unstaked or sold. To unreserve the tokens, use the "Withdraw" button on the Earn page. Partial withdrawals are not supported, so withdrawing will withdraw and unreserve all tokens as well as pause vesting. All esTETHYS tokens that had been vested into TETHYS will remain as TETHYS tokens.
A summary of rewards and mechanics: