# JWLUTK

#### **Minting**

JWLUTK is a derivative token that can be minted using UTK.

JWLUTK **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 JWLUTK per deposited UTK. ***This does not mean JWLUTK is not 1:1 backed.*** JWLUTK **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 JWLUTK on JewelSwap will give the user more JWLUTK.

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 JWLUTK staking stem from these sources:

* UTK are being staked on xExchange to generate rewards.
* Once the xMoney Guilds are live, the UTK will be withdrawn from xExchange Metastaking and used to create a guild. The guild's rewards will be shared with JWLUTK stakers accordingly.

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#### **Unstaking**

Unstaking JWLUTK from staking is possible after the initial lock up period has passed.\
When you first stake JWLUTK, it is locked for 7 days. **After these 7 days have passed**, **you can** keep your JWLUTK in staking or **remove it from staking at any time, instantly**.

If you deposit more JWLUTK or reinvest your rewards by depositing them again, the lock will reset.

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#### Swapping

You can swap JWLUTK at varying market rates on Ashswap.