# JWLHTM

#### **Minting**

JWLHTM is a derivative token that can be minted using HTM.

JWLHTM **can** make use of [POL](https://docs.jewelswap.io/other-resources/definitions/jewelswap-protocol-owned-liquidity-pol)[ ](https://docs.jewelswap.io/other-resources/definitions/jewelswap-protocol-owned-liquidity-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](https://docs.jewelswap.io/other-resources/definitions/jewelswap-protocol-owned-liquidity-pol) works, what it does, and how the backing is ensured.

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#### **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.

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**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.

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#### **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.

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#### 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 ](https://docs.jewelswap.io/other-resources/definitions#arbitrage)the price difference.

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**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**](https://docs.jewelswap.io/other-resources/definitions#unstaking-unbonding-nfts)**.**\
You can use this NFT to send it to a different wallet, trade it on NFT Marketplaces or [take a loan against it](https://docs.jewelswap.io/multiversx/nft-loan-modules/nft-loans-explained).\
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 ](https://docs.jewelswap.io/other-resources/definitions#epoch)(unbonding time).\
90 epochs is usually 90 days on the MultiversX network. [See Epochs.](https://docs.jewelswap.io/other-resources/definitions#epoch)\
\
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.

<table><thead><tr><th width="331">Example</th><th></th></tr></thead><tbody><tr><td>JWLHTM being redeemed</td><td>1000</td></tr><tr><td>APR</td><td>3%</td></tr><tr><td>Rewards per day</td><td>0,0082191%</td></tr><tr><td>80 days rewards</td><td>0,6575342%</td></tr><tr><td>Interest earned</td><td>6.575342</td></tr><tr><td><strong>Total Received after Unbonding</strong></td><td><strong>1006.575342</strong></td></tr></tbody></table>