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  • Checker Node Owners have two options to use Yield Pass. Below is how they work, the benefits, and the potential risks of each:
  • 1. Deposit & Earn
  • 2. Deposit & Sell
  • Final Steps: Withdraw, Rollover, Claim
  • Depositors have two options at the pool expiration:
  • 1. ROLLOVER
  • 2. WITHDRAW
  • CLAIM
  1. Yield Capture Layer
  2. NodeFi (Yield Pass)

Aethir on Yield Pass

Checker Node Owners have two options to use Yield Pass. Below is how they work, the benefits, and the potential risks of each:

  1. DEPOSIT & EARN: Earn swap fees and MetaStreet Node Crystals when you deposit and become a Liquidity Provider for $ATH and Yield Pass ($YP) Tokens

  2. DEPOSIT & SELL: Instantly unlock liquidity when you deposit and sell your $YP for $ATH, however, you will NOT be eligible for MetaStreet Node Crystals

IMPORTANT NOTES:

  • Node must be delegated (cannot be self-run) to one of our partners: Easeflow, Infstones, NodesOps or Zentry in order to be eligible for deposit

  • To earn Node Crystals, you must (1) create an Ascend account and (2) not sell your LP tokens. Any Crystals earned prior to selling your LP will remain


1. Deposit & Earn

This option allows you to earn swap fees and MetaStreet Node Crystals (our native rewards) by becoming a Liquidity Provider (LP).

How it Works:

Reminder: These three steps occur in one single, bundled transaction

  1. Deposit & Mint: Deposit your node to mint two tokens:

    1. Yield Pass ($YP): represents future $ATH emissions and airdrops, claimable when the pool expires

    2. Node Pass (NP): represents node ownership, claimable when the pool expires

  2. Borrow: Use your NP as collateral to borrow $ATH with the following terms:

    1. Amount and Rate: 3,000 $ATH at 0% APR (introductory rate)

    2. Term: 120 days or 1 year, depending on when you deposited

  3. Provide Liquidity: Supply $YP and $ATH to the Liquidity Pool to:

    1. Earn swap fees by creating a new liquid swap market for $ATH

Benefits:

  • Access liquidity without selling your node or waiting for emissions and/or vesting

  • Earn yield through swap fees and earn MetaStreet's Node Crystals

  • Borrow at 0% APR for a limited time

Risks:

  • Impermanent Loss: Market fluctuations in price between the time of deposit and withdrawal may change the value of your underlying LP position, specifically the quantity of each token

2. Deposit & Sell

Instantly unlock liquidity when you deposit and sell your $YP for $ATH, however, you will NOT be eligible for MetaStreet Node Crystals.

How it Works:

  1. Deposit & Mint: Deposit your node to mint two tokens:

    1. Yield Pass ($YP): represents future $ATH emissions and airdrops, claimable when the pool expires

    2. Node Pass (NP): represents node ownership, claimable when the pool expires

  2. Sell: Swap $YP for $ATH instantly from the Liquidity Pool (Uniswap)

Benefits:

  • Immediate liquidity without waiting for pool expiration and/or the 180 day vesting period

Risks:

  • You are accepting the current swap rate for $ATH, which is market dependent

  • You forfeit the ability to earn swap fees and MetaStreet Node Crystals


Final Steps: Withdraw, Rollover, Claim

Depositors have two options at the pool expiration:

  1. ROLLOVER: Roll your node over into the next Yield pass pool

  2. WITHDRAW: Exit the pool by removing your node from Yield Pass

IMPORTANT NOTES:

  • You MUST complete either option prior to loan maturity to avoid default

  • Rollovers do not impact the claims process since each new pool will have a new Yield Pass pool

1. ROLLOVER

This option allows a depositor to fully exit their position from Yield Pass. Here are the steps:

Unlike for Deposit, these transactions will require individual steps

  1. Remove LP Tokens: Remove liquidity to receive $YP and $ATH

  2. Refinance Node: Refinance your NP loan

  3. Rollover Node: Rollover your node into the new pool

  4. Claim $ATH Emissions: Burn your $YP to receive $ATH

Node will not have idle time where it isn't earning emissions

2. WITHDRAW

This option allows a depositor to fully exit their position from Yield Pass. Here are the steps:

Unlike for Deposit, these transactions will require individual steps

  1. Remove LP Tokens: Remove liquidity to receive $YP and $ATH

  2. Repay Borrowed $ATH: Repay your loan to reclaim your NP Token

  3. Redeem Node: Use your NP to reclaim your node

  4. Claim $ATH Emissions: Burn your $YP to receive $ATH

The user must re-delegate their node after they exit with their operator

CLAIM

If you minted $YP or purchased $YP via swaps, you are not affected by either Withdraw or Rollover options. Here are the steps:

  1. Vesting: Claims will open 180 days after pool expiration

  2. Claim: Claim your $vATH emissions and receive $ATH immediately

IMPORTANT NOTES:

  1. Claims will open 180 days after pool's expiration due to the required Aethir vesting period

  2. Once claims open, claims will be processed with no additional vesting

  3. Claims are a one-time process to avoid confusion and errors (you will not be able to redeem for less than the full amount of YP you own)

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Last updated 2 months ago

Loan Default: Failing to repay your loan before maturity date will result in the loss of your node. Set calendar reminders to avoid default.

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Read about Withdrawals below