weETHk (King Karak)
Last updated
Last updated
weETHk, the King Karak LRT, is intended to provide ether.fi customers an easy onboarding into the Karak ecosystem. Unlike other LRTs, users have numerous deposit options including WETH, eETH, weETH, wstETH, cbETH, bETH, rETH, mETH, swETH, etc. These assets will be directly restaked on Karak.
Earn staking yield
Access multiple point programs: Karak points, ether.fi points and Veda points
https://github.com/Se7en-Seas/boring-vault/tree/main/audit
Vault: 0x7223442cad8e9cA474fC40109ab981608F8c4273
Token: 0x7223442cad8e9ca474fc40109ab981608f8c4273
Accountant: 0x126af21dc55C300B7D0bBfC4F3898F558aE8156b
DelayedWithdraw: 0x78c61B1EA2507C4c2B13f77951549d4e76Acb52B
Lens: 0x5232bc0F5999f8dA604c42E1748A13a170F94A1B
Teller: 0x929B44db23740E65dF3A81eA4aAB716af1b88474
How does this give me more points, or even the same amount of points vs depositing directly into Karak?
Users that deposit on Karak directly only earn Karak points.
Users that deposit into King Karak earn Karak points, ether.fi points and Veda points.
Do I still earn staking rewards like I do with eETH?
You earn the composite staking rate of all yield bearing assets in the vault.
Do I still earn my ~3% APY like I get for holding eETH?
You earn the composite staking rate of all yield bearing assets in the vault.
Any yields earned on this vault other than points?
You will earn the composite staking rate of all yield bearing assets in the vault.
Where can I see my Veda points earned?
The Veda points dashboard is under development but is expected to be available in a few weeks on the Veda website at https://veda.tech/. You can learn more about Veda on X https://x.com/veda_labs
Where can I see my Karak points earned?
On the ether.fi App (coming soon)
Who audited the vault?
The vault was audited by Macro and Spearbit https://github.com/Se7en-Seas/boring-vault/tree/main/audit
How is weETHk different from other Liquid LP tokens?
You may be able to use weETHk in DeFi for things you know and love. Stay tuned.
What are Veda points, who is Veda?
Veda is the first Native Yield Layer and the protocol powering Liquid, the Super Symbiotic LRT and now the King Karak LRT. As a result, it has amassed nearly $1 billion in TVL in just four months. You can learn more about Veda on X https://x.com/veda_labs
Is there any benefit to depositing a certain token over another?
No. All deposits are treated the same.
Does this also have a 72 hour withdrawal period like other vaults?
No, it is a 7-day withdrawal period. While most withdrawals will complete well before this maximum window, this is an additional safety mechanism added by Veda.
Are deposits in the vault capped?
No caps on launch of the vault.
How much karak points do I earn?
All assets deposited in the weETHk vault are staked in Karak and earn a 3x multiplier on the entire vault. Here is the rate Karak points are accrued per weETHk:
Jul 2 - Sep 5, 2024: 2,300 base points × 3 = 6,900 points per token per day
Sep 5 - Oct 24, 2024: 1,950 base points × 3 = 5,850 points per token per day
Oct 24 - Nov 8, 2024: 1,980 base points × 3 = 5,940 points per token per day
After Nov 8, 2024: 2,300 base points × 3 = 6,900 points per token per day