FAQ
General Questions
1. Which network does Zenlink Eden work on?
Zenlink Eden is now live on the Moonbeam network. Other networks are not supported at this time. Users need to switch network to Moonbeam and hold GLMR tokens in their wallet for network gas fees.
2. How can I transfer vTokens from Bifrost to the Moonbeam network?
Since Zenlink Eden is only available on Moonbeam network, users holding vTokens (vDOT, vGLMR etc.) on the Bifrost Polkadot or other Polkadot parachains need to cross-chain transfer the assets to the Moonbeam network. The cross-chain transfer is powered by Polkadot XCM. You can refer to the following links for transfer:
Bifrost App: https://app.bifrost.io/crosschain
Moonbeam App: https://apps.moonbeam.network/moonbeam/xcm
3. What is the maturity date?
Each PT and YT has a maturity date. If you hold PT, you can redeem the full underlying tokens after the maturity date (eg. PT-vDOT → DOT). As for YT, the yield from the underlying yield-bearing tokens accumulates and is distributed only until the maturity date. After the maturity date, YT will no longer have value.
4. When would I need to use the (Un)wrap function?
Generally, users do not need to use the (Un)wrap function manually. All operations that involve wrapping yield-bearing tokens into SY are executed automatically by the protocol.
However, since the interest accrued by YT from the underlying yield-bearing assets is distributed through SY tokens, users will need to use the "Unwrap" function to convert SY back into yield-bearing assets or perform other operations like providing liquidity after claiming YT interest.
5. How can I earn fixed yield through Zenlink Eden?
You can earn fixed yield by using Zenlink Eden's Swap function to exchange yield-bearing assets (such as vDOT) for PT and simply holding PT until the maturity date. As mentioned, PT can be redeemed for the full underlying tokens after the maturity date. For example, 1 PT-vDOT can be redeemed for 1 DOT (or 1 vDOT worth of DOT) after maturity.
6. What is an Epoch?
In Zenlink Eden, an Epoch is exactly one week. Each Epoch starts and ends on Thursday at 00:00 UTC.
Each Epoch will have a veZLK voting snapshot, and the fees accumulated in each pool will be distributed every 4-5 weeks to veZLK holders who voted for the pools.
7. Why is the underlying APY shown on Zenlink Eden different from the APY shown in the underlying protocol?
The underlying APY displayed on Zenlink Eden is a 7-day average of the underlying protocol (with some assets like GLP as exceptions) to smoothen out short-term fluctuations of the underlying protocol's APY.
Providing Liquidity
1. How do I provide liquidity on Zenlink Eden?
Liquidity pools on Zenlink Eden consist of SY and PT. To provide liquidity on Zenlink Eden, simply click on the pool you wish to provide liquidity for and switch to the "Add" function on that page. There are two ways to provide liquidity:
Zap In: By providing a single yield-bearing token, the protocol will help you convert it into SY and further split it into SY (50%) and PT + YT (50%), then add the equivalent value of SY and PT to the liquidity pool (how YT is handled depends on whether you use the zero slippage mode, which will be explained below). All operations will be automatically calculated and executed by the protocol. You only need to input the single yield-bearing token you want to invest in and accept the LP tokens afterward.
Difference between zero slippage mode and non-zero slippage mode:
In zero slippage mode, the YT split from the underlying yield-bearing token (50% SY and 50% PT + YT) will be returned to you, and the protocol will automatically balance the remaining value of SY and PT before adding them to the liquidity pool.
In non-zero slippage mode, the assets added by the user will be partially exchanged for PT directly in the pool, and then SY and PT will be added to the liquidity pool.
Manual: By manually providing equivalent value yield-bearing tokens (converted to SY by the protocol) and PT to the liquidity pool.
2. What rewards can I earn by providing liquidity?
Trading fees generated by the liquidity pool
ZLK rewards
Rewards distributed by the underlying yield-bearing asset protocol (e.g., vDOT corresponding to DOT appreciation)
3. Do I need to stake my LP tokens to earn rewards?
No, LP token holders are eligible to earn rewards without staking.
veZLK
1. What is veZLK?
veZLK is the governance system of Zenlink, representing the user's voting power in the protocol.
2. How do I lock my ZLK to get veZLK?
You can lock your ZLK on the https://app.zenlink.pro/gauge page and get veZLK. The locking period ranges from a minimum of 1 week to a maximum of 2 years. The longer the locking period, the more veZLK you can obtain. The more veZLK you hold, the greater your voting power.
3. When will my ZLK unlock?
As mentioned, you can lock ZLK into veZLK for a maximum period of 2 years. It can only be unlocked and redeemed after the locking period expires. Each wallet has a single unlock date. If you extend the locking period or lock more ZLK, your veZLK amount and unlock date will be updated.
4. How does veZLK work?
Users need to lock ZLK to get veZLK. The longer the locking period, the more veZLK you will obtain. However, your veZLK value will decay over time. You can counteract this decay by extending the locking period or locking more ZLK.
We use veZLK to control the ZLK token rewards allocated to LPs. You will decide the incentives for each liquidity pool by voting for the pools you want to incentivize. The more veZLK you hold, the greater your voting power.
You will earn 40% of the fee income from the pool you voted for. The "Voter APY" displayed on the interface is the annualized fee income yield (pre-voting yield).
Note: Voter APY will be calculated and displayed after the first rewards distribution.
5. What is the maximum LP yield boost by locking ZLK?
The maximum LP yield boost from locking ZLK is 250%. You can see the amount of ZLK needed to achieve the maximum boost for each locking period using the "Add" function.
For example, to add 10 vDOT liquidity to a pool, the amount of ZLK required for a 250% LP yield boost is 3000 ZLK for a 3-month lock, 800 ZLK for a 1-year lock, and 400 ZLK for a 2-year lock. The longer the locking period, the less ZLK is required to boost LP yields to 250%.
6. How do I trigger the Boost?
If you have locked ZLK and obtained veZLK before adding liquidity: After successfully adding liquidity, all your LP's incentives will be further enhanced, up to 250%, based on your veZLK value. To achieve the maximum boost, you must hold veZLK proportional to your LP share in the pool.
If you lock ZLK and obtain veZLK after adding liquidity: You will need to manually click "Boost" in the "My Rewards" panel under the "Add" function to trigger the reward enhancement.
Security
1. Has Zenlink Eden been audited?
Zenlink Eden is a fork of Pendle. Pendle's codebase has undergone a comprehensive audit by renowned auditors, and all vulnerabilities have been addressed. You can read the audit report here. Nevertheless, we advise users to exercise caution and deploy funds carefully.
2. What risks might be associated with using this protocol?
Since Zenlink Eden interacts with third-party protocols and contracts, there are potential risks related to the smart contracts and systems deployed by third-party protocols. Zenlink is not responsible for any loss of funds due to vulnerabilities in third-party contracts.
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