$VELA and $esVELA
Staking Rewards
VELA & esVELA can be staked to earn rewards from platform activities. The rewards share is based on the total sum of VELA and esVELA that is staked with the protocol.
Staked VELA & esVELA entitles users to the following 7 benefits:
Receive discounted trading fees as per the fee discount table
Earn esVELA from each VELA buyback equivalent to 10% of the total perpetual fees
Earn 5% of the total fees in USDC generated by the perpetual exchange fees
Earn 40% of the total fees generated by the spot exchange fees (Future)
Earn esVELA from each VELA buyback equivalent to 30% of the total spot fees (Future)
Earn 30% of the fee share of the OTC trading platform (Future)
Earn ecosystem rewards (depends on chain and subject to change)
Reward Cycle 0 will pay out a fixed amount of esVELA rewards for VELA & esVELA stakers.
Vesting $esVELA
Users can deposit $esVELA into the vesting contract in order to claim the same amount of $VELA. This is unlocked continuously throughout a one year (365 days) linear vesting period. $esVELA that is staked for vesting cannot earn rewards.
All vested $esVELA rewards are provided by the $VELA buyback model.
$esVELA Contract Address: 0xeFD5A713C5bd85e9Ced46070b2532E4a47a18102
TokenFarm
The TokenFarm contract is for staking and vesting, and has a hard coded max limit for staking cooldown duration of 4 weeks and a max vesting duration for $esVELA of 700 days.
The TokenFarm contract rewards are loaded in specific intervals by the Vela team. In a scenario where a Tokenfarm contract runs out of rewards, all attempts to claim will fail.
TokenFarm contract: 0x60b8C145235A31f1949a831803768bF37d7Ab7AA
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