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pHVLO : Parasail Hivello Liquid Token

Overview​

When DePIN token holders stake their tokens in Hivello, they receive pHVLO, a liquid representation of their staked assets. These pHVLO can be freely traded, transferred, or utilized in DeFi protocols, offering stakers enhanced liquidity while maintaining exposure to staking rewards and risks.

pHVLO​

  • Deposit: When a user deposits HVLO into the Pool, an equivalent amount of pHVLO is minted.

  • Withdraw:

    • Request: When the user wants to redeem HVLO back, they make a request and lock their pHVLO up for a thawing period of 14 days. The UI will show the unlcok time.
    • Withdraw: After the unlock time, the user can withdraw the HVLO in same amount as the pHVLO they locked up. Note that the users are not eligible for the rewards during the thawing period.

  • Rewards: Staking rewards are deposited into the pool and the incremental amount is rebased to all pHVLO holder's balances proportionally.

Bridge HVLO From Solana to IoTeX​

  1. Visit official IoTeX bridge: https://bridge.iotex.io/bridge
  2. "From" select chain Solana and token HVLO. Input amount, and recipient address on IoTeX
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  1. After the bridge process is complete, you should see the HVLO in your wallet

Stake and Unstake​

Stake​

  1. Visit Parasail staking page for Hivello: https://www.parasail.network/staking/hivello
  2. Select Deposit tab and input the amount to stake
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  1. Wallet will pop up transactions for approving HVLO to the smart contract, and stake to the pool
  2. After transactions complete, you can see the pHVLO in your wallet. Might need manual import to the wallet, pHVLO address: 0xa091dfcf73d288EFB2042f272f012eBCa5b18a50

Unstake​

  1. Visit Parasail staking page for Hivello: https://www.parasail.network/staking/hivello
  2. Select Withdraw tab and input the amount to unstake
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  1. After the transaction you will start the thawing period of 14 days. You can see the pending withdrawal amount, and the tool tip would show when the thawing period is over. Note that you will not get the rewards emission during the thawing period
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  1. After the thawing period you can come back and claim the unlocked HVLO