Mint and Claim corTokens

"Minting" corToken/corTokenization refers to the process of converting points into tradable corToken on Coral Finance. This process enables users to unlock the value of their accrued points through a secure and efficient mechanism.

Earning Points: Users earn points through various interactions and contributions on different protocols.

Each point is directly converted into an equivalent amount of corTokens, maintaining a 1:1 ratio. Upon minting, these corTokens are locked and will be unlocked based on the Locked to Unlock Rule (L.t.U).

CorTokenization enhances the intrinsic value of points. Consider two scenarios: In one, no participants hold the points but want to engage in corToken liquidity pools. They must acquire these points through various means such as earning via project participation or purchasing from Coral DEX. This demand significantly boosts the liquidity of the points. In another scenario, where all users possess the points and participate in the liquidity pool, corTokenization allows users to trade their points and lock in the profits early.

How Does It Work?

Coral Finance allows users to tokenize the points, converting them into tradable tokens. This process involves several steps:

1. Users earn points through participation in specific activities with asset investment. Users gain receipt tokens for their contribution, such as Liquidity Staking Token (LST) and Liquidity Provider Token.

Note: Coral at this stage only accepts points that are generated from REAL activities excluding trading, following social media, on-chain interaction without investment, etc.

1. Users stake receipt tokens on Coral Finance and gain points.

2. Once staked, Coral converts every point into an equivalent amount of corTokens at a 1:1 ratio. The corTokens are minted and credited to the user’s account. However, these corTokens are initially locked and cannot be traded or used immediately.

Note: CorTokens cannot be converted back to points. However, the remaining corTokens are underlying assets that could used to claim airdrops after project TGE.

Claim CorTokens

The corTokens that can be claimed are mainly divided into two types: minted corTokens and unlocked corTokens.

Claim minted corToken

Minted corTokens can be claimed only when the user's LST/LP Tokens are deposited on Coral. If a user withdraws the LST/LP Tokens, the minting process will cease until they restake the point-earning assets, even if users can still accrue the points from the protocols. The withdrawal does not affect the quantity of corTokens the user has already received on Coral.

Users can claim their minted corTokens at any time.

Claiming unlocked corTokens

The number of unlocked corTokens is primarily based on an individual's unlocking speed, which consists of Base Rate and Acceleration.

Users can claim unlocked corTokens at any time that can be used for trading, liquidity provision, staking, transfer, and other purposes.