TORCH Claiming & Farms
Claiming Opens April 22. Farms Open April 23.
TL;DR
- Claim TORCH; Get xTORCH
- Use the Dividends plugin to receive a share of swap fees
- Lock your TORCH in the LP for a big rewards boost
- Join YieldBooster to accelerate your rewards
- Sit back and relax and watch the emissions roll in
Our token, TORCH, grants you access to a rare benefit in Defi: real, long-term yield supported by platform fees. We use Camelot’s proven model. For users, the way to access this yield is to hold xTORCH (which is escrowed TORCH) and/or provide liquidity.
Claiming & xTORCH Usage
When can I claim my TORCH and xTORCH purchased in the sale? Claiming begins on April 22 at 3:00 pm UTC.
How do I claim my TORCH and xTORCH purchased in the sale? You will claim your TORCH and xTORCH on the Hercules Launchpad page where the TORCH sale took place.
What happens when I claim? When you claim, you will receive tokens in your wallet in the ratio 66.6% : 33.4% :: TORCH : xTORCH.
What can I do with xTORCH? xTORCH provides you access to several powerful plugins on the Hercules dApp: Dividends, Yield Booster, and Launchpad.
Note: TORCH itself does not provide this access. You can get xTORCH by converting TORCH to xTORCH. You can also earn TORCH and xTORCH by providing liquidity.
What can I do with TORCH? TORCH can instantly convert to xTORCH which grants you access to the Dividends plugin and Yield Booster plugin. Dividends pays you real yield. Yield Booster greatly increases your farming rewards. Otherwise, you can pair TORCH with WMETIS (wrapped METIS) and deposit it into the new TORCH-WMETIS liquidity pool on Hercules to earn farming emissions, and lock that position for an earnings boost. Once the TORCH-WMETIS Nitro Pool is open (very soon), you can get even more rewards by staking your position there.
How do I convert TORCH into xTORCH? You can do this on the Hercules website on the Dashboard. Detailed information is available in our docs.
Are there deflationary mechanisms for TORCH? Yes, there are several.
Liquidity Pools, Farms and Nitro Pools
What will be the TORCH liquidity pair? TORCH-WMETIS.
When will TORCH-WMETIS liquidity be live? Approximately one hour before TORCH claiming becomes available.
Will there be a TORCH Nitro pool? Yes! Users using this Nitro pool will get additional xTORCH and xMETIS rewards. The Nitro pool will launch after TGE and will be announced separately.
Are Genesis/Alpha Pools and Nitro Pools the same thing? Yes, basically. To be precise, both Genesis Pools and Alpha Pools are special Nitro Pools that are no longer open to deposits, but will be earning for the next 3.5 months (remember, you can’t re-enter a genesis pool once you have left!)
When will Genesis/Alpha Pools begin earning farming rewards? April 23 at 3:00 pm UTC.
What will Genesis/Alpha Pools earn? All pools from Alpha and Genesis will earn additional rewards on top of what they are already getting in the form of TORCH and xTORCH (some may also give xMETIS).
When do farm emissions begin? April 23 at 3:00 pm UTC.
What rewards will farmers get? Farmers will earn TORCH and xTORCH in a 20:80 ratio. Certain farms will also give xMETIS.
Other Questions
How can I get WMETIS? You do not need to hold WMETIS before creating a position requiring WMETIS; the dApp will do this for you automatically with your METIS. If you want to, however, you can obtain WMETIS (wrapped METIS) through the Hercules swap UI. The transaction uses very little gas.
What’s a TGE? TGE is a “token generation event,” a DeFi term for when a token goes into circulation. This event represents the first time users can interact with the token and use it. Want to farm it? You can. Want to get real yield? You can. Want to trade it? You can. Want to admire it in your wallet? You can.
TORCH Sale
Does it matter when during the Public Sale I bought TORCH? No. Hercules used a Fair Launch sale process, meaning all participants get the same TORCH price regardless of when they bought it.
Do I get a different price than those who bought earlier than I did? No. Hercules used a Fair Launch sale process, meaning all participants get the same TORCH price regardless of when they bought it.
What are the metrics for the TORCH sale? Total Raise: $2 million, 35,710 METIS. Method: Fair Launch.
About Hercules
With a composable, efficient liquidity protocol featuring seamless swaps, staking, real yield, and a launchpad, Hercules aims to become the native liquidity layer for the Metis Andromeda network. Its flexible features are tailored to protocol-owned liquidity, allowing dynamic fees and customizable incentives packaged in a user-friendly interface.
