🟨veSIS
Symbiosis Reward Programs: veSIS is the perfect way to get more out of crypto assets. By staking SIS tokens, users can earn and also have a say in the Symbiosis DAO
Introducing veSIS
veSIS is the perfect way to get more out of crypto assets. By staking SIS tokens, users can receive rewards, increase APR for providing liquidity to the Symbiosis pools, reduce cross-chain fees, and most importantly, gain voting power to shape the Symbiosis DAO.
How it's work:
Holders lock their on Ethereum / BNB chain and/or zkSync Era for a desired period of time and receive veSIS tokens in return.
The SIS token is the token of the Symbiosis protocol.
For more information about the SIS token, please see SIS Token of Symbiosis.
Staking SIS tokens and becoming a veSIS holder unlocks exclusive benefits such as:
Voting power in the Symbiosis DAO For more information, refer to Governing Symbiosis
Boosted APR for liquidity provision For more information, refer to Farming on Octopools
Cross-chain fees reductions: up to 60%! For more information, refer to this article
Rewards for staking SIS tokens For more information, continue reading this document
The longer SIS tokens are locked, the more rewards and voting power holders have. Let's consider the following examples:
1 SIS locked for 4 years = 1.00 veSIS 1 SIS locked for 3 years = 0.75 veSIS 1 SIS locked for 2 years = 0.50 veSIS 1 SIS locked for 1 years = 0.25 veSIS
The number of your veSIS tokens will get a little smaller every week as they turn into SIS tokens of rewards. Eventually, at the end of your lock period, you will have 0 veSIS tokens and your locked SIS tokens will be available for withdrawal.
Rewards are distributed once a week, on Thursday at 00:00 UTC.
Rewards are accrued for the full week. For example, if you lock SIS tokens on Friday, the first portion of the rewards for that lock will be available in 13 days, not 6.
Users can claim their rewards in full at any time; there is no vesting period. Locked SIS tokens become available for withdrawal once the chosen lock period is over.
User Guide
There are two steps on the path to veSIS rewards and voting power:
Get SIS tokens on Ethereum, the BNB chain, or zkSync Era,
Get veSIS tokens: stake SIS tokens on Ethereum, the BNB chain, or zkSync Era.
Adding SIS token to the Token List in your Wallet
Before you start working with SIS tokens on Ethereum, the BNB chain, or zkSync Era, you may need to add the token to the token list in your wallet. Here is the information you need:
$SIS on Ethereum
Contract address: 0xd38BB40815d2B0c2d2c866e0c72c5728ffC76dd9
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More information on Etherscan
$SIS on BNB Chain
Contract address: 0xF98b660AdF2ed7d9d9D9dAACC2fb0CAce4F21835
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Mori information on BscScan
$SIS on zkSync Era
Contract address: 0xdd9f72afED3631a6C85b5369D84875e6c42f1827
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More information on zkSync block explorer
Joining the veSIS Program
To join the veSIS reward program and receive rewards, discounts, and voting power, you need to lock your SIS tokens first. When you lock SIS tokens, you will receive veSIS tokens in exchange. The more veSIS tokens you have, the more rewards you will receive.
You can lock SIS tokens on Ethereum, BNB chain and zkSync Era. If you have SIS tokens locked on more than one chain, the SIS tokens of all chains will be taken into account for voting and discounts.
To lock SIS tokens:
Connect your wallet.
If you see the Switch network to Ethereum/BNB/zkSync Era button, switch to the network by pressing the button and confirming the action in your connected wallet.
The number of your veSIS tokens will get a little smaller every week as they turn into SIS tokens of rewards. Finally, you will have 0 veSIS tokens by the end of your lock period, and then your locked SIS tokens will become available for withdrawal.
Weekly and total rewards listed for your lock are estimated values. They are calculated based on the total number of SIS tokens locked at the time of calculation and the reward amount allocated last week.
Done ∎
Managing Your Lock
You can extend an existing lock and/or add more SIS tokens to an existing lock.
To change existing lock:
Navigate to Symbiosis WebApp > Farming Section > the veSIS tab.
Connect your wallet.
Confirm the transaction in your wallet.
Once the lock time has ended, the SIS tokens can be unlocked. Please claim rewards first, then you will be able to unlock SIS tokens.
Done ∎
Checking and Claiming Rewards
Rewards are distributed once a week, on Thursday at 00:00 UTC. Rewards are accrued for the full week. For example, if you lock SIS tokens on Friday, the first portion of the rewards for that lock will be available in 13 days, not 6.
The number of your veSIS tokens will get a little smaller every week as they turn into SIS tokens of rewards. Eventually, at the end of your lock period, you will have 0 veSIS tokens and your locked SIS tokens will be available for withdrawal.
The time depth of rewards information to be displayed is 50 weeks (it's roughly one year).
To check and claim your rewards:
Connect your wallet.
Done ∎
Unlocking SIS tokens
Once the lock time is over, the SIS tokens can be unlocked.
You should claim rewards first, then you can unlock your SIS tokens.
Important Due to the complexity of the smart contract, there's a maximum time depth of 50 weeks (approximately one year) for claiming rewards. If you haven't claimed rewards for more than 50 weeks, you will need to do so multiple times.
De.Fi Dashboard
Octopool and Symbiosis Reward Programs (veSIS on Ethereum/BNB chain, LP Farming on Ethereum/Arbitrum) are integrated with the De.Fi Dashboard. The integration allows you to view your assets deposited in Symbiosis with De.Fi.
How to check:
Done ∎
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