$WAR
An introduction to the Warlord system represented by $WAR
Last updated
An introduction to the Warlord system represented by $WAR
Last updated
WAR is an ERC-20 token that is always redeemable for its backing assets. As a governance index, WAR is composed of Convex (CVX) and Aura (AURA) which is vote-locked to generate yield. All rewards and yield are sent back to WAR stakers. At the moment, WAR accepts only these two assets but the system can be adapted to other vlTokens.
The only way to mint WAR is by depositing either CVX or AURA, or both. When minting, users will receive WAR directly. To then start earning with WAR, users must stake WAR to earn their rewards and vote incentive yield. Vote incentives are distributed in WETH and are managed by Paladin’s delegation address. BAL and CRV are earned as auraBAL and cvxCRV to farm more AURA & BAL and CVX & CRV while it's not claimed. Other rewards include PAL, FXS and cvxFXS. Also, any AURA or CVX earned is auto-compounded into more WAR. Users who don’t stake their WAR forfeit their yield to other stakers.
Users who wish to exit the Warlord system will need to redeem their WAR tokens for their backing. The redemption ratio will depend on the current ratio of locked assets within the system. Once redeemed, the WAR will be queued for the unlock date of each asset. CVX and AURA will unlock at separate dates depending on their availability. Once available, users will be able to claim their tokens. Note: assets in the redeem queue do not earn yield.
There are currently no plans to support an official liquidity pool for WAR. If users wish to exit Warlord they’ll need to redeem WAR for its underlying assets.
Management fee: 5%
Redeem fee: 2%
Tholgar
Tholgar is an auto-compounder vault specifically designed for the WAR index. Its primary objective is to enhance your returns by automatically reinvesting rewards from governance tokens every two weeks. The strategy for auto-compounding is designed to optimize long-term yield by initially refraining from claiming cvxCRV and auraBAL rewards. This approach allows for the accumulation of more WAR tokens and reduces gas fees. Additionally, it strategically arbitrages the varying weights of CVX and AURA to generate additional WAR, maximizing overall yield efficiency.
