Time-Bound Token (ERC1155)

The Time-Bound Tokens (TBTs) are ERC1155 tokens. They represent claims on the underlying assets, allowing for transfer of the claim without necessitating the withdrawal or unlocking the deposited assets.

When a user deposits assets into Hourglass, these tokens are minted to their wallet. The TBTs themselves do not necessarily compound (unless the underlying asset does so), instead, the address holding the tokens accumulate the yields that the deposited assets generate over that given reward period, are automatically harvested by the first token transfer of said period, and are distributed by a Merkle claim (see Reward Distributor).

For Convex-Frax locked assets, the Token ID is the maturity timestamp, though this may not remain the same across new assets.