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Mint Your HOOK (1, 1)

Users can buy HOOK from the protocol at a discount by trading it with liquidity (LP tokens).
It takes roughly 5 days to vest, and HOOK tokens are vested linearly to the user over that period. LP tokens including HOOK help the protocol to accumulate and lock liquidity, while other LP tokens allow the protocol to grow its treasury, and thus its RFV faster.
Neverland accepts below assets to mint HOOK:
  • HOOK-KUSDT
  • KUSDT-KDAI
  • KUSDT-KUSDC
  • more assets will be added

How to Redeem

Go to Mint page and select the type of mint you have proceeded. Select the "Redeem" tab. Then, click "Claim Rewards" to claim all of your available rewards.

Reading the Info

Balance is your balance of KLP (Klayswap LP) tokens. This is the asset used to mint HOOK.
Mint Price is the price of HOOK you get from minting. You can calculate the mint price using the following formulae:
  • KLP Mint: (Value of your SLP token / HOOK you'll get from minting)
Market Price is the market price of HOOK.
You Will Get tells you how many HOOK you will get from minting.
Debt Ratio measures the total amount of HOOK created from mints that have yet to be paid out by the protocol. The debt ratio is calculated differently for among types of KLP mint:
  • KLP including HOOK: (HOOK created from unredeemed mints / HOOK total supply)
  • Other KLP: (HOOK created from unredeemed mints / HOOK circulating supply)
Vesting Term measures the period a minting takes to fully redeem. This number is 5 days or 15 epochs.
Discount is the difference between the mint price and the market price. In the screenshot above, minting would give you a 10.63% discount versus buying the same amount of HOOK from the market.
Pending Rewards is the amount of HOOK you are entitled to receive from minting.
Claimable Rewards is the amount of HOOK that you can claim now. This amount keeps increasing as HOOK is vested to you over the minting period.
Full Mint Maturation refers to the time when the minted HOOK is fully redeemable.