Parifi’s Guide for Post-LBP Token Claiming and Vesting
The LBP on Fjord Foundry was a crucial milestone for Parifi, as it introduced the token to the community, welcoming the first-ever PRF holders. Huge thank you to everyone for participating in the LBP and for your patience during this two-month locking period.
With the vesting period ending soon, it’s good to go over the token claim process and all the benefits of being a PRF holder. Exciting perks are waiting for those who have joined the protocol early on, casting their vote of confidence.
This guide will detail the post-LBP steps: the vesting period, the token claiming process, and the path toward juicy rewards from putting your PRF to work.
The Vesting Period
The Fjord Foundry LBP includes a vesting period of just two months, concluding on March 26th. This short vesting period aims to ensure that the PRF token fulfills its intended utility on the protocol and that ample liquidity is available in the market post-launch.
Following March 26th, all LBP tokens will become tradable, enabling immediate utility. Furthermore, liquidity mining incentives and staking rewards will begin at this time.
Steps to Follow After the LBP
Participating in a Fjord Foundry V2 LBP means you trade a representation of the actual tokens, ensuring constant liquidity throughout the event. At the end of the LBP, you need to redeem to receive the actual tokens in your wallet.
Locking tokens ensures liquidity is stable and available throughout the LBP, preventing early withdrawals or external liquidity setups. The lock-in also supports a seamless experience with token vesting.
Redeeming your tokens
When the LBP ends, you have to redeem your tokens by clicking on “Redeem Tokens” button. Executing the redeem function will claim the Sablier token stream to your wallet.
Step 1 — For vested tokens, you will be directed to Sablier to view your vesting stream, as shown in the interface.
Step 2—On the Sablier website, you must connect with the same wallet you used to purchase the PRF tokens during the LBP on Fjord V2.
Your vesting stream will be visible once your wallet is connected.
Click on your vesting stream for detailed information, such as balance, amount streamed, start and end dates, etc.
Step 3—To withdraw from your Sablier stream, click on ‘Withdraw’ button to open a pop-up screen. Withdrawals will be possible only after the vesting and token stream is complete on 26th March 2024.
Step 4 — Click ‘Withdraw’ and specify the amount you wish to remove from the vesting contract up to the maximum available during the vesting period.
Step 5 — Sign the transaction to receive your tokens in your associated wallet.
Closing the LBP
The LBP creator handles closing the pool. Therefore, you will find that the pool has already been closed for you, and you can proceed directly to redeem your tokens.
Next Step: Staking
Once the vesting period ends, your PRF tokens become tradeable. However, one of the primary benefits of holding PRF tokens is the opportunity to stake them.
Staking in the Balancer 80/20 pool brings juicy rewards to PRF holders. The user-friendly staking interface allows you to stake directly with ETH or PRF for easy participation.
By staking in the PRF/ETH 80/20 pool, users can receive swap fees from the trading activities within the Balancer pool and a share of the revenue generated by the protocol from various transaction fees, for example.
Community Round #2 on the Horizon!
Missed out on the Liquidity Bootstrapping Pool (LBP) event? No worries! Gear up for Community Round 2, offering another chance to get involved. This forthcoming round will be hosted on various launchpads, widening the path for participation.
All the details will be communicated in due time, so keep an eye on Parifi’s official social media channels:
- Telegram: https://t.me/Parifinews
- X (formerly Twitter): https://twitter.com/0xParifi
- Discord: https://discord.com/invite/w87gpcau8X
