stGLINT
The staked version of GLINT is a non-transferable escrowed governance token.
Last updated
The staked version of GLINT is a non-transferable escrowed governance token.
Last updated
Beamswap v3 introduces the stGLINT token, a staked version of the Beamswap-native GLINT.
With enhanced staking and earning opportunities, stGLINT substitutes the SHARE token and serves as a new reward-generating asset in Beamswap v3 farms and pools.
The upgraded token strategy delivers enhanced staking opportunities and allows for expanded token utility in future platform upgrades.
stGLINT is a non-transferable escrowed governance token and represents staked GLINT in a 1:1 ratio.
You can convert it directly from GLINT or earn it from your staked positions in Beamswap v3 Yield Farms.
As a staked asset, stGLINT holds the same utility known to the SHARE token holders and brings it to another level.
Besides, it enhances the Beamswap v3 platform with:
Less sell pressure
Vesting on stGLINT-GLINT conversion
Permanent 1:1 GLINT-stGLINT ratio
Allocating or staking ability
Burning mechanism
In the following upgrades of the Beamswap v3 platform, more utilities of the stGLINT token might be introduced.
You can allocate or stake stGLINT in various Beamswap v3 features and plug-ins to generate passive rewards.
Beamswap v3 introduces new farms that emit 30% of the GLINT rewards in stGLINT. The platform is also supplying pools that bring triple rewards in GLINT, stGLINT, and GLMR (grant GLMR).
stGLINT is illiquid and not transferrable as it merely represents your share of staked GLINT on the Beamswap v3 platform.
To move stGLINT and use it elsewhere, you should deallocate the allocated amount and withdraw it into your wallet. At deallocation, the vesting rules apply.
Vesting rules for stGLINT > GLINT conversion:
Minimum vesting of 15 days to redeem 50% of staked value
Maximum vesting of 90 days to redeem 100% of staked value
Example: You staked 100 stGLINT, and after 40 days, you decide to redeem them and convert them back to GLINT. Since the full vesting period of 90 days has not been reached yet, you receive 66.67% of the allocated value or 66.67 GLINT, while 33.33 GLINT are burned.
The result is obtained from the following formula:
50% + ((days reached — minimum 15 days) / 75) * 0.5
Where:
50% represents the minimum redeemable value after 15 days
Every additional % of the redeemable value is a result of halving the ratio between:
The days that surpassed the minimum period of 15 days and
The difference between the maximum and minimum period, which is 75 days
While early redemption of GLINT is possible, the remaining unredeemable tokens get burned.
At this point, the default deallocation fee is 0% until announced otherwise.
By delivering enhanced functionalities to the platform, the primary being its staking ability in exchange for rewards, stGLINT replaces the SHARE token, the staple of staking on Beamswap v2.
If you have any remaining SHARE balance on Beamswap, you should convert it to stGLINT.
