Redeem veKWENTA & vKWENTA
Tutorial on how to redeem veKWENTA and vKWENTA
If you participated in the Aelin Pool for Kwenta back in early 2022 you can now redeem your vKWENTA tokens for KWENTA directly on the Kwenta Redemption page.
The Kwenta redemption tab is a part of the Kwenta Staking Dashboard. You can navigate to the staking dashboard using the sidebar on the left side of the main Dashboard.
The first step is to connect your wallet holding vKWENTA tokens to the Kwenta staking page. Click the Connect Wallet button on the top right corner and connect your wallet of choice.
Select the
Redemption tab. Find the vKWENTA redeemer box and select Approve. Submit & approve the transaction through your web3 wallet. Next, submit a second transaction to Redeem Kwenta for your vKWENTA token.Redemptions happen in absolutes. Meaning any tokens available for redemption will be redeemed in their entirety, and no partial redemption can be executed.
Congratulations you have turned vKWENTA into KWENTA that can be used in protocol governance and staked to earning inflationary rewards.
Redeeming veKWENTA is done very similarly to redeeming vKWENTA as outlined above. The main thing to keep in mind is that the veKWENTA was issued on L1 Ethereum (Mainnet). Due to this it will need to be bridged to Optimism before it can be redeemed on the Kwenta Staking Dashboard. We've partnered with Optimism to make veKWENTA composable between Mainnet Ethereum and Optimism L2.
Visit the Optimism Bridge at:
Connect your wallet holding veKwenta tokens to the Optimism Bridge. Click the Connect Wallet button on the top right corner and connect your wallet of choice.
Select veKWENTA in the token dropdown list. Note: Read the info box below on how to add veKWENTA to the token list.
The veKWENTA token does not display by default in the standard token list. You have to toggle on the OP Extended Token List, which will add veKWENTA as a bridgeable asset.
Enter the max amount of veKWENTA to bridge. Select Approve and submit the transaction in your wallet. Once approved a Deposit button will appear. Select Deposit and approve the transaction.
Congratulations veKWENTA is on its way from Ethereum to Optimism.
Bridging assets can take 15-20 minutes. Once completed follow the same steps outlined above to redeem vKWENTA, making sure to select the veKWENTA box instead of vKWENTA
Last modified 4mo ago