gUSHer Boost-strapping Event

*Updated Jul 03, 2023*

TLDR;

• 5,000,000 $GUSH (5% of Supply) rewards for participants

• 30 Days to participate (earlier is better)

• Contribute what you like (USH, ETH, unshETH, qualifying LP tokens)

• Risk mitigation mechanism in place (get your assets returned if the protocol doesn’t launch)

Introduction

After working alongside the unshETH team, gUSHer has reworked the mechanics of the Boost-strap Event. We believe this will create a more attractive environment for users while also limiting their risk. In addition, this will encourage a large boost to help bootstrap the gUSHer protocol and ensure long-term success.

We’re really excited about this event as a way to get $GUSH into the hands of dedicated early adopters and the unshETH community.

How to participate: gUSHer Boost-strapping Event

To participate in the gUSHer Boost-strapping Event, simply stake any of the following assets:

• USH

• ETH (will be zapped into LP)

• unshETH (will be zapped into LP)

• 80USH-20unshETH (Balancer LP Token)

• USH-ETH (Sushiswap LP Token)

• USH-ETH (Camelot LP Token)

Participants will receive their share of $GUSH rewards pro-rata, based on the corresponding amount of vdUSH generated by the assets they’ve staked (LP tokens have vdUSH multipliers built-in as compared to USH). Total rewards will account for 5% of the overall $GUSH supply (5,000,000 GUSH).

Prior to protocol launch, all assets contributed will be converted to vdUSH. Users will receive their staked tokens back in the form of tokenized vdUSH ($gushyUSH) alongside the launch of gUSHer. All users will be able to claim their tokens at the same time regardless of the day they participated.

Risk management / contingency plan

Assets will be held safely in a vault controlled by the unshETH and gUSHer teams. After successful protocol launch and with the signatures of both teams, participants will receive their $gushyUSH and $GUSH rewards. In the unlikely event of a failed launch or excessive delays (greater than 90 days from the end of the Boost-strap Event), assets will be automatically unlocked and claimable by participants.

If desired, $gushyUSH can be swapped back to $USH via the gushyUSH/USH pool. However, staked $gushyUSH earns boosted rewards (greater than vdUSH) paid in USH, GUSH, and unshETH*.

Event Start:

Monday, Nov 13, 2023

Event End:

Wednesday, Dec 13, 2023 (30 days in total)

Be early, get rewarded

gUSHer will be incentivizing users who are early into the Boost-Strapping event weighting their rewards as follows:

Sample Reward Calculation

To demonstrate reward calculation and provide additional clarity, a sample Boost-Strapping Event with 3 participants all contributing 1M USH is simulated and charted below:

The following is a rewards calculation for ‘Participant 2’ based off of the chart above:

vdUSH Contributions will be calculated alongside protocol launch (transactions will be batched to save gas costs for users). Final $GUSH allocations will be calculated based on vdUSH generated and will all become claimable at the same time, regardless of the day of participation. $gushyUSH is minted 1:1 for each vdUSH generated.

Claiming GUSH rewards

$GUSH rewards are claimable after the launch of gUSHer. To encourage long-term success of the protocol:

• 25% of rewards will be unlocked on day 1

• 75% of rewards will vest over 12 months

Unlocked $GUSH may be vote-locked to begin earning protocol yield immediately.

Unclaimed reward tokens from the Boost-strap Event will be returned to the gUSHer treasury 6 months after the end of the vesting period (vote-locked tokens cannot be returned to the treasury, as they have been claimed by their reward recipient).

Recap of Steps to Participate

1. Choose which asset you want to contribute

   1. USH

   2. ETH (will be zapped into LP)

   3. unshETH (will be zapped into LP)

   4. 80USH-20unshETH (Balancer LP Token)

   5. USH-ETH (Sushiswap LP Token)

   6. USH-ETH (Camelot LP Token)

2. Based on the day you contribute, there will be a corresponding weighting multiplier for your share of the 5,000,000 GUSH pool

   1. See Chart

3. Collect your tokens when the protocol launches

*unshETH rewards are generated from protocol fees, activated by USH governance