JWLTAO

Minting

JWLTAO is a derivative token that can be minted using TAO.

JWLTAO can make use of POL by minting up to 1.3 JWLTAO per deposited TAO. This does not mean JWLTAO is not 1:1 backed. JWLTAO is 1:1 backed. Please read up on how POL works, what it does, and how the backing is ensured.

Staking

Staking JWLTAO on JewelSwap will give the user more JWLTAO.

Rewards are paid multiple times per day.

Rewards

Rewards for JWLTAO staking stem from these sources:

  • The TAO deposited by users is deployed into Hatom Money Markets (and collateral activation if possible) to generate yield.

Unstaking

Unstaking JWLTAO can happen immediatelly. JWLTAO can be unstaked without lockup.

Swapping

You can swap JWLTAO at varying market rates on Ashswap.

Redemption

JWLTAO is redeemable 1:1 for TAO.

Redeeming JWLTAO for TAO takes 10 epochs (unbonding time). 10 epochs is usually 10 days on the MultiversX network. See Epochs.

When unbonding, you receive an NFT from JewelSwap. UJWLTAO 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.

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