Upon a deposit in either the Risk or Hedge vaults, the user will receive a receipt of their deposit in the form of an ERC-1155 token. This token will denominate the depositors position and outline their return pattern.
- Upon epoch end, or vault depeg, the vault will close and the depositors will be able to claim their ETH payouts. Depositors will burn their Vault tokens to claim the proceeds.
- In order to be eligible for farming rewards depositors need to stake their Vault tokens in the appropriate staking vault. During the IFO period the Y2K tokens are locked and non-transferable, after the IFO period Y2K rewards will be emitted by the block and can be claimed any time.
Once users mints a Y2K vault token their tokens will be visible in the claim tab. During the epoch the status under the token will denote “ongoing”.
Depositors in the Hedge vault will see the status denote “liquidated” and users will have the option to “burn” their tokens.
Depositors will be able to claim ETH rewards immediately after the vault closes and the epoch ends.
In this case the status of the token will denote “win” under the token and users will have the option to “claim”.
Depositors in the Risk vault will see “collateral liquidated” under their Y2K vault tokens, but will still have the option to “claim premium”.
In this case the status of the token will denote “win” and Risk vault depositors will have the option to “claim”.
Note that regardless of the outcome all vault depositors will be eligible for Y2K rewards if they have staked their Vault tokens.