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esORDER is the escrowed form of ORDER.Startingfromepoch7,tradingrewardsandmarketmakingrewardsarepaidinesORDERinsteadofliquidORDER. Starting from epoch 7, trading rewards and market making rewards are paid in esORDER instead of liquid ORDER. When you receive esORDER, you can either:
  • Stake it — esORDER staking provides the same benefits as staking $ORDER (VALOR accrual, reward boosts).
  • Vest it — Convert esORDER back to liquid $ORDER over a vesting period.

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Redemption (vesting)

Converting esORDER to $ORDER requires a vesting period. The conversion ratio increases linearly with the vesting duration:
OptionDurationConversion rate
Minimum vesting15 days50%
Maximum vesting90 days100%
The remaining 50% unlocks linearly between day 15 and day 90. You can claim once at any point during this window.

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Burn mechanics

When you redeem esORDER before the full 90-day vesting period, the unredeemed portion is permanently burned. Example: Bob receives 100 esORDER and redeems after the minimum 15-day vesting. He receives 50 ORDER—theother50ORDER — the other 50 ORDER is burned and removed from circulation.

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Why escrowed tokens?

  • Reduces sell pressure — Rewards vest over time rather than being immediately liquid, unlike typical farming tokens.
  • Compounding loop — esORDER can be staked to earn additional rewards, incentivizing users to keep tokens staked rather than vesting immediately.