esORDER

esORDER is the escrowed $ORDER token. Starting from epoch 11 users who earn trading rewards and market making rewards will receive esORDER instead of liquid $ORDER token.

Upon receiving esORDER, users can decide whether to:

• Stake esORDER to obtain the same benefits as staking $ORDER

• Vest esORDER and convert it to $ORDER after some time

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Redemptions

The redemption process to convert esORDER to $ORDER implies vesting, the conversion ratio will increase linearly with the vesting duration:

• Max. Vesting = linear vesting over 90 days, a user gets 100% of the tokens unlocked.

• Min. Vesting = 15 days, a user gets 50% of the tokens unlocked after the min vesting period

The user can only claim once between the 15th and 90th day. Linear vesting of remaining 50% of the tokens between days 15 and 90.

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Burning mechanics / deflation

When a user redeems esORDER for $ORDER ahead of the full period of time (i.e. 90 days), a fraction of the rewards are burnt, leading to deflation.

For example, Bob receives 100 esORDER and decides to redeem them after the minimum vesting period, he has to wait 15 days and then he gets 50% $ORDER and the other 50% $ORDER is burnt and removed from circulation permanently.

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Benefits of escrowed tokens

• As rewards are vested it spreads sell pressure from $ORDER as users won’t be able to sell rewards like with typical farming tokens.

• esORDER can be staked to compound their rewards creating a reflexive loop that keeps users staking their tokens and delaying vesting.