Claiming mechanism
Where you can start vesting your Gro DAO tokens and claim the locked governance tokens given up by other users when leaving vesting early
Rewards shows users their own Gro DAO tokens (GRO) earned through airdrop, liquidity mining, or vesting bonus (more below). It is structured to show the GRO source on the left-most column where you can start the 12-month vesting.
Let's go from left to right on what you can see in Rewards.
It shows how many GRO tokens you have been rewarded from each pool, airdrop, or Vesting Bonus claims.
For them to start vesting, you need to click "Claim" for these GRO to either go into your 12-month vesting contract OR go into your wallet (only 30% rewards will be available; the remaining 70% will be given up to Vesting Bonus Pool for others to claim). You can make a different choice every time you claim your rewards.
Let's take a Vesting Bonus claim as an example.
You will add 100% of the GRO tokens into your vesting contract. If this is your very first claim on Gro, that means a new vesting contract for your wallet will be created with a 12-month vesting schedule. If you already have a vesting position at Gro, this sum will add to it. This would extend your vesting schedule end date and also position you to earn a higher Vesting Bonus in the following claims. How much vesting extends and how much more bonus you'd get depend on the weighted average of GRO tokens you are already vesting and those you'll looking to add.
Once you start vesting, your GRO would move from "pending" to the next two columns. You will have 0% unlocked when you started vesting; the sum would be unlocked linearly over the next 12 months. If you leave early by clicking "Exit & get GRO" before the vesting is completed, you will get what is unlocked and give up what is still locked to the Vesting Bonus Pool.
This is the simpler option. You would claim 30% of rewards to your wallet and give up the remaining 70% to the Vesting Bonus Pool for other to claim. There is no impact to what you already have vesting before.
This shows how much GRO is currently locked i.e. vesting. After the new tokenomics change, you can now choose to lock more GRO – either those you've acquired from the market or those you've already unlocked (i.e. what's at the right-most column).
Just like adding new GRO to your vesting schedule above, locking more GRO from your wallet would have the same effect on your vesting schedule end date and how much bonus you can claim from the Vesting Bonus Pool. As you can see below, you could check how much the extension will be before commiting to lock more GRO tokens. You'd also have the flexibility to lock GRO from both wallet and unlocked portions in one go!
This is an option for those who're looking to relock all your unlocked GRO (there is no option to relock part of your unlocked GRO at this point). If you choose to do so, your new vesting schedule will be extended to end exactly 12 months from now as all your GRO will now be at 0% vested.
Screenshot taken on 4th March 2022; vesting schedule will extend to end on 4th March 2023 in this option
It states how much GRO you have already unlocked i.e. those you can freely claim to your wallet if you are happy to leave the rest behind. But this is only the maximum number. With the upgraded tokenomics, you can now choose to only exit a percentage of your position.
Aside from deciding how much GRO you'd like to continue vesting, this column also hosts the most intriguing part of the Rewards Centre – the Vesting Bonus Pool.
As users leave vesting early, GRO tokens they give up do not go into treasury but to this Vesting Bonus Pool for others who're still vesting to claim. Another source of Vesting Bonus comes from performance fees on yield generated from PWRD (5%), Vault (5%), and Labs (10%).
This mechanism encourages users to start vesting earlier rather than later as all users who vest can start tapping into the bonus early – once you claim your first Vesting Bonus, you'll have to wait for 4 weeks before making another claim. The share you could claim is based on your locked GRO as a % to total locked GRO. You will be able to see how much you could exactly claim from the Vesting Bonus Pool once you have started vesting - the number of GRO you can claim will show up under "Your Vesting Bonus" in the left-most column.
Last modified 7mo ago