TruPOL Token
What is TruPOL?
TruPOL is the liquid staking receipt users receive when they deposit POL into the TruStake vault. It is an ERC-20 token like POL and has all the same basic functionality.
As soon as you deposit POL on the TruStake smart contract, you receive newly minted TruPOL, based on the exchange rate at the time of staking.
Similarly, when you request an unstake, the corresponding amount of TruPOL is burned simultaneously.
What is the TruPOL exchange rate and how does it change?
At launch, the TruPOL / POL exchange rate is set to 1, i.e. the amount of POL per TruPOL is 1. As rewards accrue from staking, the exchange rate increases to reflect this.
For example, if you deposit 1000 POL with the exchange rate at 1.0, you will receive 1000 TruPOL in return. If you accrue 10 POL of rewards, the exchange rate will change to 1.01 to reflect that your 1000 TruPOL is now redeemable for 1010 POL.
The share price is calculated net of all validator and vault fees.
How many TruPOL will I get after staking POL?
The amount of TruPOL you receive when you deposit TruPOL is given by the TruPOL / POL exchange rate by
Similarly when you request to withdraw your POL from the vault, your TruPOL is burned in proportion at the current exchange rate.
Do I have to claim my TruPOL when I deposit?
No. TruPOL will automatically be sent to your wallet when you deposit POL in the TruStake vault.
Where can I use TruPOL?
You can read about the mechanics of TruPOL in our explainer blog.
We have worked on an extensive list of partnerships which will support TruPOL on Polygon. The spectrum of partners will include DEXs, yield farming, lending/borrowing and more. The following list of partners are live or will go live over the coming week(s):
TruPOL Liquidity Pools on Balancer (coming soon)
TruPOL lending/borrowing on QiDao (coming soon), Aave (coming soon)
Many more to come!
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