JWLMEX
JWLMEX is a type of derivative token.
Important: Derivative tokens are not redeemable, so minting them is not reversible.
Minting
JWLMEX is a derivative token that can be minted using MEX. JWLMEX is not growing in value and is always backed 1:1 by xMEX.
JWLMEX can make use of POL by minting 1.3 JWLMEX per deposited ASH. This does not mean JWLMEX is not 1:1 backed. JWLMEX is 1:1 backed. Please read up on how POL works, what it does, and how the backing is ensured.
Staking
Currently, no rewards are being paid out, because the revenue generating xExchange modules (xExchange Farms) are not live yet.
Staking JWLMEX on JewelSwap will give the user more JWLMEX.
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 (in particular the xMEX), 15% of user-generated rewards are given to stakers.
Because xExchange gives out only (locked) xMEX in rewards, JWLMEX are minted, still backed by the newly earned xMEX, and given to the JWLMEX stakers.
Because of the difference in staked derivative tokens to existing derivative tokens, the APR for the staked tokens is typically higher.
Unstaking
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.
Swapping
You can swap JWLMEX at varying market rates on Ashswap.
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