> For the complete documentation index, see [llms.txt](https://fera-3.gitbook.io/feradotfun/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://fera-3.gitbook.io/feradotfun/for-liquidity-providers/rewards-and-vesting.md). # Rewards & vesting FERA has one token, **FERA** (fixed supply, 1 billion, forever). You earn it through *usage*, but you don't receive it as liquid FERA right away. You receive **esFERA**, which vests. This page explains esFERA, the instant-exit haircut, staking, and the revenue share, and it is careful about language because the words here matter legally. ## esFERA: escrowed FERA When you earn emissions (by providing liquidity in a vault, or as a trader rebate), they arrive as **esFERA**: non-transferable, escrowed FERA. * **It vests linearly to FERA 1:1 over \~6 months** (182 days). As it vests, you can claim the vested portion as liquid FERA, no penalty. * **Or you can exit instantly, at a 50% haircut.** If you don't want to wait, you can convert esFERA to FERA immediately, but you receive only **half**. The other half is forfeited. * **Withdrawing your liquidity does not touch your esFERA.** Your grants keep vesting on their own schedule regardless of what you do with your LP position. ### The instant-exit haircut, in numbers Instant exit takes a flat **50%** haircut. The forfeited half is split three ways, exactly: * **1/3 is burned** (removed from supply forever), * **1/3 goes to people who are still vesting** (patience is rewarded), and * **1/3 goes to the revenue distributor** (which pays stakers, treasury, and ops). So if you instant-exit **1,000 esFERA**: | | Amount | | ----------------------------------------------- | --------- | | FERA you receive now | **500** | | Forfeited | 500 | | → burned | \~166.67 | | → to vesting stakers | \~166.67 | | → to revenue | \~166.67 | | What you'd have gotten by waiting the full vest | **1,000** | The Rewards page has a live **instant-exit calculator**: type any amount (or drag the slider) and it shows exactly what you'd receive, what you'd forfeit, and where the forfeited part goes, *before* you ever confirm. The point is that you can never take the haircut by accident. Waiting is almost always the better deal unless you specifically need liquidity now. ## Staking (sFERA) You can stake FERA to receive **sFERA**. Staking has **no voting, no gauges, and no bribes.** Emissions in FERA follow *measured* fees, not votes, so there's nothing to lobby for. Staking gives you three things: 1. **A boost on your own LP emissions, up to \~2×.** Staking increases *your* share of the liquidity-provider emission bucket. Two honest details: the boost applies **only to your LP emissions** (not to the trader rebate), and it is a *re-weighting of a fixed pool*. It changes your slice, it never mints new tokens. If everyone staked and boosted equally, the boosts would cancel out. 2. **A share of protocol revenue.** Half of FERA's real fee revenue (the 10% performance fee) flows to stakers. This is a **revenue share.** It is **variable and tied to protocol activity**, not a fixed or promised payout. When the protocol earns more, stakers receive more; when it earns less, they receive less. (See the language note below.) 3. **An optional time-lock** with linearly decaying multiplier points, if you want to commit longer for more weight. ## The revenue share, and a note on language We are deliberate about how we describe staking rewards, and you should be too when you talk about FERA: * We say **"revenue share":** variable, activity-linked, paid out of fees the protocol actually earned. * We do **not** say "dividend," "passive income," "yield on your stake," "guaranteed," or "fixed." Those words carry a specific legal meaning FERA does not intend and cannot back. The revenue share is not a promise of return; it's a share of whatever revenue happens. This isn't marketing caution for its own sake. It's the same discipline that runs through the whole protocol: **if we can't point to the on-chain transaction, we don't claim it.** See [Transparency](/feradotfun/tokenomics-and-transparency/transparency.md). ## Where emissions come from Emissions are capped by revenue and split **85% to liquidity providers / 5% to traders / 10% to treasury**. Crucially, **emissions can never exceed what the protocol actually earned** (bounded by `β × revenue`, with β = 0.8). Early emissions are therefore *small* by design. The full mechanism (and why you should not treat emissions as the reason to deposit) is in [Emissions & tokenomics](/feradotfun/tokenomics-and-transparency/emissions-and-tokenomics.md). *** Next: [Emissions & tokenomics →](/feradotfun/tokenomics-and-transparency/emissions-and-tokenomics.md) · [Transparency →](/feradotfun/tokenomics-and-transparency/transparency.md) --- # Agent Instructions This documentation is published with GitBook. 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