JWLHTM
Minting
JWLHTM is a derivative token that can be minted using HTM.
JWLHTM can make use of POL by minting 1.3 JWLHTM per deposited HTM. This does not mean JWLHTM is not 1:1 backed. JWLHTM is 1:1 backed. Please read up on how POL works, what it does, and how the backing is ensured.
Staking
Staking JWLHTM on JewelSwap will give the user more JWLHTM.
Rewards are paid out based on a 7-day epoch. This means that rewards are being accumulated for 7 days, and after this 7-day-epoch, the rewards are paid out to the stakers, relative to their staked amount.
Rewards
Rewards for JWLHTM staking stem from these sources:
Modules where JewelSwap utilizes Hatom (in particular the HTM Tokens), 15% of user-generated rewards (which are in USDC) are used to buy JWLHTM, which is ultimately given to stakers.
Unstaking
Unstaking JWLHTM from staking is possible after the initial lock up period has passed. When you first stake JWLHTM, it is locked for 7 days. After these 7 days have passed, you can keep your JWLHTM in staking or remove it from staking at any time, instantly.
If you deposit more JWLHTM or reinvest your rewards by depositing them again, the lock will reset.
Swapping
You can swap JWLHTM at varying market rates on Ashswap. If the price of JWLHTM is below it's intrinsic value, it may make sense to arbitrage the price difference.
Redemption
JWLHTM is redeemable 1:1 for HTM.
When unbonding, you receive an NFT from JewelSwap. UJWLHTM NFT This is a so-called unstaking/unbonding NFT. You can use this NFT to send it to a different wallet, trade it on NFT Marketplaces or take a loan against it. 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.
The redemption period is 90 epochs (unbonding time). 90 epochs is usually 90 days on the MultiversX network. See Epochs. During 80 of those 90 epochs, the user will earn a fixed 3% APR. After the 90 epochs have passed, the user gets 1:1 HTM (plus the 3% APR) and the JWLHTM are burned by the protocol.
The reason for the 10 epochs , where no rewards are given out, is that the HTM tokens need to be unstaked by JewelSwap, and tokens earn no rewards during the unbonding period.
| Example | |
|---|---|
JWLHTM being redeemed | 1000 |
APR | 3% |
Rewards per day | 0,0082191% |
80 days rewards | 0,6575342% |
Interest earned | 6.575342 |
Total Received after Unbonding | 1006.575342 |
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