THORSwap Releases More Details on $vTHOR

Brief details of  $vTHOR had been previously shared on THORSwap's Q2 update but the THORSwap team is re-iterating the power of  $vTHOR and how it benefits its users staking $THOR.

What is $vTHOR?

$vTHOR is the new membership staking token that offers generous rewards and benefits to active THORSwap participants and users.

The upgraded V2 Single-sided $THOR Staking (launching early May) introduces several new benefits:

• $vTHOR token: Stake $THOR tokens to receive $vTHOR tokens, a composable and tradeable representation of your staked $THOR position.
• Additional Staking Rewards: V1 Staking Rewards came purely from emissions of the Community Incentives pool. V2 Staking Rewards are a culmination of Community Incentives emissions plus 75% of all THORSwap revenues.
• Trading Discounts: THORSwap users holding $vTHOR will be entitled to trading fee discounts. To celebrate the launch of $vTHOR, for a limited time, THORSwap trading fees will be 100% waived for everyone staking $THOR + holds any amount of $vTHOR!

Previously 100% free, THORSwap will introduce a 0.3% trading fee (Swaps only), beginning the week of April 25th.

Future $vTHOR Benefits & Utility

Lots of new benefits and utilities are in the works, most notably:

• THORSwap Protocol Governance. $THOR is 65+% allocated to the community. Protocol governance will be thoughtfully rolled out for the community to drive key decisions.
• Composability with other DeFi protocols. This will unleash #THORChads to leverage $vTHOR as collateral, margin trading, options, hedging, etc. The degen possibilities are endless!

How does V2 Staking work?

Two-Step Process for Users

1. Stake $THOR tokens in the new single-sided staking contract (make sure you’ve withdrawn from legacy V1 staking contract and re-stake)
2. Receive $vTHOR tokens representing your staking position

All done! Your staking position will automatically receive daily staking rewards that auto-compound without any need to claim, redeposit, etc.