tetuQi
Last updated
Last updated
When users deposit QI into tetuQi vault, QI is locked into eQi for a maximum period of 4 years. All deposits will be locked for a maximum period of 4 years and after that period they will be locked again for a maximum period of 4 years, so technically all QI deposited on tetuQi are locked permanently.
The tetuQi token represents QI tokens locked for the maximum period in QiDao. In order for the users to participate in tetuQi, all that is required is deposit QI tokens in the tetuQi vault. QI tokens deposited in the vault will create tetuQi at a ratio of 1:1.
QI deposited in tetuQi is technically in permanent locking. Although it is impossible to withdraw from tetuQi vault directly there is still an alternative to withdraw QI from tetuQi which is to sell tetuQi on Balancer.
Although selling tetuQi is an alternative to withdraw the assets of the vault, the user will have to beware of slippage costs. Despite the slippage costs tetuQi LP provides a withdrawal alternative for users to receive the earnings and benefits of QI locked for 4 years and still retain the option to withdraw assets by selling tetuQi.
tetuQi is a product that represents positive points for both Tetu and QiDao, the advantages for QiDao is that tetuQi will lock more and more QI tokens permanently as more QI are deposited. And the advantage for Tetu is that the larger the deposits in tetuQi, the greater the Tetu's voting power in QiDao.
This voting power is used to increase the amount of QI rewards distributed to Tetu's Multi Strategies. This increases the APY obtained by users through these strategies.
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