JWLETH
Last updated
Last updated
JWLETH is a derivative token that can be minted using ETH.
JWLETH can make use of by minting 1.1 JWLETH per deposited ETH. This does not mean JWLETH is not 1:1 backed. JWLETH is 1:1 backed. Please read up on how works, what it does, and how the backing is ensured.
Staking JWLETH on JewelSwap will give the user more JWLETH.
Rewards are paid multiple times per day.
Rewards
Rewards for JWLETH staking stem from these sources:
The ETH deposited by users is deployed into Hatom and JewelSwap Money Markets (and collateral activation if possible) to generate yield.
Unstaking JWLETH can happen immediatelly. JWLETH can be unstaked without lockup.
You can swap JWLETH at varying market rates on Ashswap. If the price of JWLETH is below it's intrinsic value, it may make sense to the price difference.
Redemption
JWLETH is redeemable 1:1 for ETH.
Redeeming JWLETH for ETH takes 10 (unbonding time). 10 epochs is usually 10 days on the MultiversX network.
When unbonding, you receive an NFT from JewelSwap. UJWLETH NFT This is a so-called . You can use this NFT to send it to a different wallet, trade it on NFT Marketplaces or . You need the NFT (which is essentially a receipt) to claim your assets after the unbonding time passed. The NFT proofs your ownership of the unbonding assets.