Quick Start

ESPN is a yield-bearing token.

The token can either be minted or purchased from the liquidity pool. The token will autocompound but LP staking will offer rewards.

Minting

To mint ESPN deposit USDS to the vault.

The mint price will start at 100 USDS per ESPN.

The mint price will increase with the value of the underlying assets.

There is no vesting or lockup on ESPN. The vault is completely permissionless and the token will be freely tradable.

Minting Cap

ESPN minting is capped.

If the minting cap is hit, the only way to acquire ESPN will be by swapping for USDS through the Uniswap liquidity pool at the market rate. The pricing in the LP is completely based on free market pricing and available liquidity.

ESPN's deposit cap will be closely monitored and adjusted higher based on demand and market dynamics.

We reserve the right to increase or hold the cap at any time.

Contract Addresses:

ESPN Token: 0xb250C9E0F7bE4cfF13F94374C993aC445A1385fE

ESPN LP: 0x67E26e7ef3344b9E8970F6413dc678b138C30317

ESPN Derive Bridge: 0x9371352CCef6f5b36EfDFE90942fFE622Ab77F1D

sESPN LP Contract: 0xcD65F0b6E31e44225330DB8622a9e5307DDC6c1C

Staking Contract: 0xb250c9e0f7be4cff13f94374c993ac445a1385fe

Perpetual Bond

An explicit design choice of ESPN is that it has NO redemptions.

Unlike typical DeFi vaults where capital can be withdrawn at any time, ESPN is built as a perpetual product.

To exit, you must sell ESPN through the LP at the market rate, subject to available liquidity, not by redeeming against the vault itself.

LP Staking

Yield is paid out to LP stakers.

To stake ESPN, you will need USDS tokens of equal value. The exact ratios will depend on the market price of ESPN. Click stake on the UI and you will be given sESPN.

sESPN is a tokenised Uni v3 position initially, the range is set at $10-$1000. This range can be adjusted as the price of ESPN changes, always to provide deep liquidity. Rewards will automatically compound in sESPN.

Rewards will be paid in LP tokens; staked LP will be concentrated in the range of $10-$1000 (the first tranche of ESPN will be minted at $100). To earn these rewards, you will need to pair your ESPN with USDS and stake through our contracts.