Understanding Equinox
This is a technical guide to help you understand the key components of Equinox.
eclipASTRO
eclipASTRO is a derivative of ASTRO, returned to the user at a 1:1 rate
eclipASTRO is obtained by:
Depositing in the Single-Sided Vault
Participating in the Lockdrop
By converting ASTRO or xASTRO to eclipASTRO
eclipASTRO conversion is 1-way. Liquidity pools may exist that allow users to swap eclipASTRO for ASTRO tokens.
eclipASTRO benefits
ECLIP Stakers
Gain control over Eclipseโs vxASTRO voting power quantified by cosmic essence balance.
Increased yield via bribe rewards and $ASTRO rewards
ASTRO Holders
Opportunity to earn boosted yield on their $ASTRO through either the single-sided vault or LP vault.
Astroport
Eclipseโs vxASTRO holdings obtained through Equinox are permanently held, resulting in a lower circulating supply and a decrease in selling pressure.
Increased trading volume and revenue from the projects that launch on Eclipseโs launchpad.
Increased Utility for the $ASTRO token.
Eclipse Fi
Increased utility for the $ECLIP token.
Significant vxASTRO voting power
Increased revenues
Launchpad becomes more attractive to potential projects looking to IDO.
Equinox Vaults
Single-Sided Vaults
Stake eclipASTRO, ASTRO, or xASTRO -> Earn eclipASTRO, ECLIP, & bECLIP.
Reward multipliers: Flexible: 1x, 1 month: 1.25x, 3 months : 1.5x reward, 6 months: 2x
How it works:
ASTRO staking rewards earned by Equinox are distributed to the single-staking vaults, allowing eclipASTRO stakers to earn significantly more rewards opposed to xASTRO.
Boosted ECLIP rewards can be earned through an optional time lock.
Time lock options range from 1 month to 6 months.
eclipASTRO-xASTRO (LP) Vault
The eclipASTRO-xASTRO (LP) Vault is an incentivized vault for the eclipASTRO-xASTRO PCL pool with LSD parameters on Astroport. The LP holds significant importance as it serves as the primary liquidity for the eclipASTRO token. Thus, users are heavily incentivized to participate in providing liquidity.
The LP vault earns a significant amount of Astroโs emissions as Equinox and the Eclipse DAO diverts a portion of its voting power to vote for the pool via Astroportโs gauges.
Additionally, the LP vault is incentivized with the underlying trading fees and ECLIP & bECLIP emissions.
To participate in the eclipASTRO-xASTRO (LP) Vault, you must first acquire eclipASTRO-xASTRO LP tokens by performing the following steps on Equinox.
Under โVaultsโ click โDeposit Nowโ under the eclipASTRO-xASTRO LP Vault.
Click โGet eclipASTRO-xASTRO LP Nowโ
Click โConvert tokensโ and convert eclipASTRO, ASTRO, or xASTRO, to eclipASTRO-xASTRO LP tokens.
Alternatively, LP tokens can be obtained on your own through Astroport, by performing these steps:
Convert 50% of your xASTRO to eclipASTRO via Equinoxโs Convert option.
Head to https://app.astroport.fi/pools
Click โAdd Liquidityโ next to eclipASTRO-xASTRO Pool.
Add desired amount of xASTRO & eclipASTRO.
Ensure โStake LP Token for Additional Rewardsโ is Off.
Click โAdd Liquidityโ
eclipASTRO-xASTRO LP tokens should now appear in your wallet.
Return to Equinox and deposit your newly acquired eclipASTRO-xASTRO LP tokens in the eclipASTRO-xASTRO LP Vault.
Voting and Gauge Weights
The Astroport vxASTRO system allows vxASTRO lockers to vote on how ASTRO inflation is distributed by assigning weights to each liquidity poolโs โgaugeโ.
As a holder of vxASTRO, Eclipse can participate in these voting procedures, and these voting rights are passed to Cosmic Essence holders which is obtained by staking ECLIP.
Cosmic Essence holders perform voting under the โVoteโ tab.
Voting Rules and Information
Voting periods are called Epochs and every 14 days a new Epoch begins.
Eclipse will place its votes in the final 3 hours of every epoch. Because of this, voting will be disabled on Equinox during the final 3 hours of every epoch.
Cosmic essence holders will have two voting options available:
Delegated Vault
Manual Voting
Eclipse will always vote with the entirety of its voting power.
Delegated Vault
Cosmic Essence holders can opt to โdelegateโ their voting power to the Eclipse DAO. The Eclipse DAO will then utilise their voting power to vote for a combination of Eclipse-related pools and the highest bribe reward pools available. The bribe rewards earned by Eclipse are then redistributed to the users
Delegating is a "one and done" option for Cosmic Essence holders. Once opting in to the delegate vault, users will not have to vote again unless they opt out of the delegate vault.
This is viewed as a โPassiveโ option for ECLIP stakers. Minimal effort is required to earn continuous passive rewards.
Manual Voting
Cosmic Essence holders have the option to vote for the pool of their choice.
They will receive rewards based on the amount of their voting power % and the amount of rewards Eclipse receives.
Votes reset every Epoch.
This is a a more โActiveโ option as users must return at least once every 14 days to place their votes.
What if Cosmic Essence Holders donโt vote?
Non-voters do not earn any rewards.
80% of non-voters voting power is used to mimic the votes placed by Voters.
20% of non-voters voting power is used by Eclipse DAO to vote on Eclipse-related LPs or projects launched on Eclipseโs launchpad.
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