Unknown for CONE Stakers
When users deposit their veNFT or CONE, they automatically receive a proportional amount of unCONE (unknwnCONE is minted 1:1 for CONE deposited). unCONE is a tokenized, fungible representation of 1 locked Unknown CONE. Because of the way CONE’s rebase mechanism works, this position will never be diluted, as Unknown automatically converts rebased CONE into unCONE, and passes this along to unCONE stakers.
unCONE stakers on Unknown are entitled to the following benefits:
- No dilution, as ve(3,3) rebases are passed along to stakers as more unCONE.
- Since unCONE is a liquid token, it allows stakers to easily exit their locked position at any time.
- 10% share of CONE earned by Unknown protocol LPs, as CONE.
- Protocol-optimized CONE trading fees.
- Protocol-optimized CONE gauge bribes.
- At least 5% floor share of all Unknwn emissions (see below for bonus details).
Bonus Unknwn emissions:
- unCONE stakers have large upside above their floor amount of Unknwn emission.
Earned = (CurrentunONE
Staked / TotalCONE
- For example, if you own 1% of all CONE as unCONE, you will receive 1% of all Unknwn emissions.
- unCONE stakers will earn whichever number is greater between the floor and this formula. This incentivizes stakers to continue growing their unCONE lock in order to receive a greater share of Unknwn emissions.
- Any unCONE staker contributing significantly to bootstrapping Unknown's CONE lock is eligible to be a partner. Learn more about Parters program here.