LEX Token


Emission Schedule

Escrowed LEX

esLEX is distributed to staking pool participants.

esLEX is non-liquid, non-transferrable LEX that can be used in two ways:

  1. Staked to receive the same rewards as a regular LEX token (fees, esLEX)

  2. Vested for 12 months to become liquid LEX tokens


esLEX has the effect of giving higher returns to long-term stakers, who can be seen as Lexer's committed users that are also qualified to make major decisions regarding the protocol's future. The longer and the more you stake, the larger share of fees you take. The value of esLEX comes from these accumulating rewards over time. This aligns the interests of Lexer Markets and our token holders for long-term growth. Read more here


Non-staked esLEX tokens can be vested to be redeemed as LEX. When you initiate vesting, your esLEX will be linearly converted into LEX every second and will fully vest at the end of 12 months.

Vesting requires "reserving", or locking, LEX into the vesting vault. The amount required for vesting is equivalent to the amount of staked LEX you used to acquire the esLEX. Both LEX tokens and LP tokens can be used for the required amount.

For example, if you staked 1000 LEX and earned 100 esLEX tokens, then to vest 100 esLEX tokens, 1000 LEX tokens will need to be reserved. To vest 50 esLEX, 500 LEX tokens (or equivalent LP tokens) will be reserved. Note that this is an example and the actual ratio depends on the average staked amount and rewards earned for your account.

Staked LEX and LP tokens that are reserved in the vesting vault will continue to earn rewards. However, please note that you will not be able to unstake the tokens while they are reserved.

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