How to swap $vArmor to $gvEASE
Existing $Armor and $vArmor owners can now swap their tokens to $EASE and $gvEASE. Please read the details about the different types of tokens and the swaponomics here, but basically:
- It is a simple one-way 1:1 swap: you get 1 $EASE for every $Armor, which can’t be swapped back.
- It is open-ended, there is no hurry, though the sooner you have $(gv)EASE, the sooner you can enjoy all their benefits.
- Those who had staked $Armor to get $vArmor will receive extra $gvEASE, retroactively from the date of the deposit. This bonus only gets rewarded if the $vArmor gets swapped to $gvEASE directly.
- The $gvEASE will start ‘growing’ from the start, meaning the date of the swap from $Armor or the date you deposited $EASE.
- The exact swap rate for $vArmor is dependent on the current $vArmor -> $Armor conversion rate, currently 1.177.
4 token swaps are possible:
Both $Armor tokens can be swapped to both $EASE tokens, so there are 4 possible token swaps possible:
- $Armor -> $EASE: this is best if you want to keep tradeable and movable tokens
- $Armor -> $gvEASE: this is best for those that want to take advantage of all of the aforementioned functions of the $gvEase tokens, and is just a combined transaction: $Armor -> $EASE -> $gvEASE.
- $vArmor -> $EASE: for those who currently have staked tokens, but want to move them to a new address before depositing them, or who want to trade them.
And the special swap, which this current article dives deeper into:
- $vArmor -> $gvEASE: for those who are already generating yield on their $Armor tokens. Also for those actively voting on DAO proposals, who wish to keep on doing so.
Instead of earning extra $Armor tokens, you can now earn $EASE tokens (bribes) and their $gvEase token amount will grow retroactively from the date of deposit (which was possible from April 14th, 2022).
How to swap
The Token Swap page is located here: https://ease.org/token-swap
Once you connect your wallet that contains your $Armor and $vArmor tokens, you will be able to swap them easily and quickly.
Basically, there are only a few steps:
- Connect your wallet
- Choose the type and amount of tokens you want to swap to and from (you can click on $Armor/vArmor and $EASE/$gvEASE to switch between them).
- Approve those tokens for the swap (1st transaction)
- Approve the actual swap (2nd transaction)
The Special $vArmor-> $gvEASE swap and bonus
If you had staked your $Armor into the Armor governance pool, you would have received $vArmor in return, which has grown in value (currently, 1$vArmor is about 1.17 Armor).
When you swap the $vArmor to $Armor or to $EASE, you will get that extra amount in $EASE tokens. But in addition to this, you can also get an extra $gvEASE bonus if you swap directly from $vArmor -> $gvEASE!
Do note the following:
- There is no time delay as there was when withdrawing $vArmor to $Armor.
- You can only swap all of your $vArmor to $gvEASE (no partial swaps are possible).
- You will receive a bonus amount of $gvEASE based on the date you deposited your $Armor.
- You only receive the bonus $gvEASE if you swap directly from $vArmor -> $gvEASE.
If you would swap your $vArmor to $EASE or $Armor and then swap those to $gvEASE, you will NOT receive the bonus $gvEASE.
That’s it! You now own $EASE and/or $gvEASE and can use them to protect your DeFi investments.
As the snapshot was taken a few weeks ago, there might be a few theoretical cases where $Armor was deposited between the snapshot and the launch of the $gvEASE app.
In this case, you won’t be able to swap directly from $vArmor -> $gvEASE, but you can still swap from $vArmor -> $EASE first and then deposit your $EASE to get $gvEASE.
You would not receive your bonus (which would be very small anyway due to the short period), but if you let the team know, they will set that straight:
Do you have questions?
We created a special contact form, so do contact us if you:
- Have questions about the token swap
- Encounter any difficulties swapping, for example from $vArmor -> $gvEASE
- Don’t get any bonus $gvEASE when swapping from $vArmor -> $gvEASE
- Would like to send your $gvEase to another wallet than the one your $vArmor is
- Have anything else on your mind the team should know!