JWLMEX
Last updated
Last updated
JWLMEX is a derivative token that can be minted using MEX.
JWLMEX can make use of by minting 1.3 JWLMEX per deposited MEX. This does not mean JWLMEX is not 1:1 backed. JWLMEX is 1:1 backed. Please read up on how works, what it does, and how the backing is ensured.
Staking JWLMEX on JewelSwap will give the user .
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 JWLMEX staking stem from these sources:
Modules where JewelSwap utilizes xExchange, 15% of user-generated rewards are given to stakers.
Because xExchange gives out only (locked) xMEX in rewards, JWLXMEX are minted, still backed by the newly earned xMEX, and given to the stakers.
The MEX used to mint JWLXMEX are either locked for xMEX, which is used to mint JWLXMEX or used to buy JWLXMEX. The JWLXMEX are then staked to generate rewards for JWLMEX stakers.
Important: JWLMEX is minted using MEX. MEX itself cannot be used by JewelSwap to generate rewards on xExchange or using the JewelSwap xExchange modules.
Therefore, JewelSwap will buy JWLXMEX on AshSwap using the MEX (only when the swap ratios are favorable).
The JWLXMEX are subsequently being staked to earn a share of the generated rewards.
Unstaking JWLMEX from staking is possible after the initial lock up period has passed. When you first stake JWLMEX, it is locked for 7 days. After these 7 days have passed, you can keep your JWLMEX in staking or remove it from staking at any time, instantly.
If you deposit more JWLMEX or reinvest your rewards by depositing them again, the lock will reset.
You can swap JWLMEX at varying market rates on AshSwap.