Starting Thursday, July 16th, 2020, those who held iETH at the time we took our snapshot (July 2, 2020 at 7PM EST) will be able to trade their iETH for vBZRX.
vBZRX is a new token from bZx that entitles holders to the following benefits:
- Holders accrue BZRX internally as they vest and can claim anytime
- The tokens vest over 4 years with a six month cliff.
- The vesting tokens earn fees that vest simultaneously with the tokens that earned them.
- Vested fees can be claimed anytime
- Vesting tokens have 50% voting power compared to BZRX
Individuals who held iETH during our snapshot can visit the Staking Dashboard to trade their iETH for vBZRX starting July 16th, 2020.
How to Get vBZRX
The button for converting iETH to will only be visible to individuals who hold iETH and were whitelisted during the snapshot.
Click the button, approve the transaction, and your iETH will be automatically swapped for vBZRX. It’s that easy!
Initially, iETH can be converted to vBZRX at a rate of 0.0002 iETH per vBZRX. The conversion price of vBZRX may be updated in the future to reflect current market conditions.
The Buy Back program is updated to offer a price of 0.00023 iETH per vBZRX to whitelisted people and 0.0003 iETH per vBZRX to non-whitelisted people.
This means people can mint iETH with ETH on Fulcrum, and then use the iETH to swap for vBZRX. Please use up any whitelisted balance first before attempting to swap more at the non-whitelisted rate.
Please confirm you’re using the official Staking Dashboard located at: https://staking.bzx.network when exchanging tokens.
Also, be sure you’re interacting with the correct BZRX token. BZRX tokens include:
- BZRXv1 - The original governance token of the bZx Protocol. Holders are currently migrating to BZRX (Learn more).
- BZRX - The official governance token of the bZx Protocol (as of Monday, July 13th).
- vBZRX - BZRX token wrapped into a vesting contract
Get Your Tokens Today!
Want to start trading your iETH for vBZRX? Head over to the Staking Dashboard to get started.
If you have any questions, comments, or concerns, please feel free to contact the team via Telegram or check out our Help Center to answer all of your questions about the token migration, bZx, Fulcrum, and Torque.