It has been six months since we launched our vesting token (vBZRX), and with the vesting cliff a few hours away, we are sharing the following small reminder to all our vBZRX holders. The cliff ends on January 12th, 2 am UTC. While we have already released a detailed blog post, we just thought of sounding you a holler as it’s time for you to take action.

As we had mentioned earlier, that as per our design, vBZRX itself could not be staked as it does not have any governance rights, nor can it participate in sharing fees. The holders of vBZRX stake the underlying BZRX that is enfolded inside our vesting contract wrapper (vBZRX) and has a vesting period of four years with a 6-month cliff.

While people holding the vesting contracts from the platform’s launch in August till the cliff will find their BZRX (inside the vesting contract) and the subsequent fees generated vest over the remaining 3.5 years after the cliff, this event calls for action from vBZRX holders that are providing liquidity to AMM such as Balancer or Uniswap.

After the cliff – if vBZRX holders continue to hold their tokens in an AMM such as Balancer or Uniswap, their vesting contracts will slowly leak BZRX into the liquidity pool, which will be unretrievable. While we wouldn’t want any of our token holders to get alarmed by this design milestone, we would like them to be aware of this cliff and ensure their vBZRX is stored within their wallets. vBZRX can also safely deposit vBZRX to the bZx staking contract, and BZRX will be staked and claimable as it vests.

Due to the cliff, there could be some downside liquidity movement in the short term as holders pull out their vBZRX’s from the AMMs. However, we will ensure to find a workaround for it in the medium term.

Again, we would want to reiterate to our token holders not to be alarmed by this call to action but would like to make sure that our community understands the vesting contract’s design and how it affects their holdings. Please ensure you understand the above, and if you have any questions, feel free to reach out to us.

Here’s how to claim vested BZRX from your vBZRX holdings:

1) Go to https://etherscan.io/token/0xB72B31907C1C95F3650b64b2469e08EdACeE5e8F#writeContract

2) Connect to your web3 wallet

3) Select option 3 “Claim” and click on the “Write” button.

4) Proceed through the web3 wallet transaction and ensure you are paying an appropriate gas fee (You can check at https://etherscan.io/gastracker)

As always, please feel free to connect with the team via Telegram or Discord. Check out our Help Center to answer all of your questions about bZx, Fulcrum, and Torque.

About the author
Tom Bean
Founder and CEO @ bZx.