💼Vesting esH1 - Converting esH1 to H1
Vesting is the process of converting esH1 into liquid H1, block by block, over a 365 day period
Direct link to esH1 Vesting page
Vesting esH1(What is esH1?) involves the conversion of escrowed H1 (esH1) into the liquid H1 token over a 365-day period. This process is designed for users who prefer to gradually turn their non-transferable esH1 into H1, which can be freely traded or used on the Haven1 network.
How Vesting Works
Initiating Vesting: Users can start the vesting process with a minimum of 0.01 esH1. The process is straightforward and managed through the Haven1 Portal by going here. Note that vesting will incur a standard 1$ application fee paid in H1.
Vesting Period: Vesting occurs linearly over 365 days. The esH1 tokens gradually convert into H1 tokens during this period, ensuring a controlled release into the user's wallet. As an example, if you vest 365 esH1, you would have 100 H1 available to claim after 100 days, 200 H1 after 200 days and so on.
Track ongoing vestings & Claiming Vested H1: Users can check the ongoing tranches of vesting and claim their converted H1 tokens at any point by going here during the vesting period. Once claimed, these tokens are fully liquid and can be used or traded on the Haven1 network.
Note: Claiming the vested H1 will incur a standard 1$ application fee paid in H1.
Application Fees
Vesting and Claiming Fees: Initiating vesting and claiming vested tokens each incurs a standard application fee of $1 worth of H1, covering the operational costs of processing these transactions.
Given the fee considerations, it would not be prudent to vest small amounts of esH1 or claim small amounts of vested H1
Important Considerations
No Locked Staking Benefits: esH1 undergoing vesting does not accrue staking rewards. This process is solely for converting escrowed tokens into their liquid form.
No Governance Participation: Vested esH1 does not confer governance rights during the vesting period, as it is not locked.
User Decision: The choice to vest esH1 is at the user’s discretion, based on their need for liquidity or personal financial strategy. The platform does not advocate or advise on the decision to vest, recognizing that each user's circumstances are unique.
Summary
The vesting process for esH1 on Haven1 allows users to convert their non-transferable esH1 into liquid H1 tokens in a controlled and predictable manner. This guide is intended to provide a clear understanding of how vesting works and to demonstrate the process through a user-friendly interface on the Haven1 platform.
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