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xODIN is a non-transferable escrowed governance token, corresponding to staked ODIN
Name: Escrowed ODIN Token Ticker: xODIN Chain: Arbitrum
xODIN is a non-transferable escrowed governance token, corresponding to staked ODIN.
xODIN can be used in two ways:
- 1.Staked for Real Yield rewards: xODIN, ETH/ BNB and Multiplier Point
- 2.Vested to become actual ODIN tokens over a period of one year
Each staked xODIN token will earn the same amount of xODIN as a regular ODIN token.
Note that xODIN is not meant to be transferrable.
When vesting is initiated, the average amount of ODIN tokens that was used to earn the xODIN rewards will be reserved.
For example, if you staked 1000 ODIN and earned 100 xODIN tokens, then to vest 100 xODIN tokens, 1000 ODIN tokens will be reserved. To vest 50 xODIN, 500 ODIN tokens will be reserved. Note that this is an example and the actual ratio depends on the average staked amount and rewards earned for your account.
xODIN tokens that have been unstaked and deposited for vesting will not earn rewards. Staked tokens that are reserved for vesting will continue to earn rewards.
After initiating vesting, the xODIN tokens will be converted into ODIN every second and will fully vest over 365 days. xODIN tokens that have been converted into ODIN are claimable at anytime.
If a user sells ODIN tokens and would like to vest their xODIN rewards later on, they would need to re-buy the ODIN tokens. ODIN, xODIN and Multiplier Points can be used interchangeably for the required reserve amount.
Depositing into the vesting vault while existing vesting is ongoing is supported.
Tokens that are reserved for vesting cannot be unstaked or sold. To unreserve the tokens, use the "Withdraw" button on the Earn page. Partial withdrawals are not supported, so withdrawing will withdraw and unreserve all tokens as well as pause vesting. All xODIN tokens that had been vested into ODIN will remain as ODIN tokens.