Staking

An Overview of the Hourglass Staking Interface

Liquidity for Time-Locked Staking Contracts

In simple terms, Hourglass tokenizes time-locked staking positions. This tutorial covers the process that users can follow to both stake and unstake their assets from the platform.

A more technically oriented overview of how staking works can be found here.

Staking

When a user comes to the Hourglass staking interface, the first thing they must do is select the market that they wish to stake within. Each market supports a single deposit token, which is always a Curve LP token. For this tutorial, we will be showcasing the Frax-Convex frxETH/ETH market which supports deposits of frxETHCRV.

If a user does not have the curve LP token required for depositing, they can acquire them from Curve. A "zapper" which allows users to convert other tokens into the target deposit token automatically will be added to the website soon.

Once the user has the deposit token, they can select the target maturity of the TBT they will receive upon staking. Longer duration lock times will lead to greater yields, so users need to weigh their liquidity requirements and model their desired expected ROI prior to selecting a particular maturity vault.

After selecting a maturity vault, the user should enter in the amount they wish to stake and then click the stake button. This will deposit their curve LP tokens into the vault and they will receive TBTs in return. Note that TBTs are ERC1155 tokens, meaning that they may show up in the NFT section of whatever wallet (Metamask, etc.) you are using to interact with the app.

Unstaking

Once TBTs reach their maturity date, they become redeemable for the underlying assets (Curve LP tokens). Users can simply click the unstake button to perform this redemption process.