Understanding unCONE

unknwnCONE token, and how it fits in the Unknown platform

unCONE is tokenized veCONE

  • A tokenized version of veCONE, unCONE, is returned to the user at a 1:1 rate.

    • Unknown automatically converts rebased CONE into unCONE proportional to the users staked amount.

  • If a user deposits CONE into Unknown, that CONE is locked forever on the platform as veCONE.

  • Converting CONE to unCONE is a one-way transaction (i.e. it can not be undone).

unCONE Staking

  • unCONE can be staked into the platform to receive normal CONE admin fees one would get for staking their veCONE on CONE.

  • Additionally, users staking unCONE will receive CONE from Unknown's performance fee, as well as the platform native token Unknwn.

unCONE Liquidity Pools

  • Rather than staking unCONE, users can also choose to contribute to the CONE liquidity pool unCONE/CONE.

  • Users can then stake their unCONE/CONE LP token on Unknown to receive a 0-5% fee on CONE earned by other LP positions for providing liquidity to enter and exit Unknown's CONE ecosystem via the unCONE token.

    • By default this is 0% but can be raised by a governance vote.

Last updated