User Guide
Last updated
Last updated
Hourglass Boost gives users access to an array of actions depending on their time and risk appetites. This user guide outlines the user journey through our product offerings.
Below is the general interface that users can access for Boost.
The Boost Points modal allows users to purchase combined tokens (CTs). As noted in the previous section, a CT represents a time-boosted underlying token that has been staked into a particular maturity vault. The CT can be redeemed 1:1 for the underlying asset upon maturity and will accrue all points earned by the asset. In the form shown below, users can select a desired vault duration. The more time staked, the more you earn.
When the CT matures, you can also click the redeem button to claim the underlying token at a 1:1 ratio.
The Buy Points modal allows users to purchase the Point Yield Tokens (PYTs). As noted in the previous section, a PYT entitles users to all the points accrued by the CT. Since a PYT is not entitled to the underlying assets, it is much cheaper than the CT to acquire. This allows for users to leverage their exposure to points. In the form shown below, users can select the desire vault duration. The more time staked, the higher the boost multiplier.
When you enter the base asset you want to swap for pure PYTs, Hourglass RFQ will broadcast your intent to all market makers in the system. The best quote will be surfaced and you will have the option to accept the quote to execute the transaction. Since PYT prices tend towards zero (more on this in the previous section), the closer to maturity, the cheaper the PYT. Naturally, this is because you stand to accrue less points overall.
The Trade modal allows users to prematurely exit their CT position. This flow is also facilitated by Hourglass RFQ. When you sell your CT, you keep all points accrued up to that point in time. At maturity, the CT can be redeemed 1:1 for the underlying assets. As such, the price of the CT will tend towards the price of the underlying asset. The form below demonstrates the sell CT process, allowing users to specify the desired value maturity and output token,
Since Hourglass RFQ is integrated with a group of private market makers, users can tap into deep on-chain and off-chain liquidity sources, free from the shallow liquidity and slippage of traditional AMM pools.
