Phase II: Get and use brktETH

Last updated 3 days ago

Claiming brktETH

Phase II will be an exciting time for the Bracket Protocol and our community. It will be where brktETH can be redeemed and put to work within the within . brktETH holders will be in complete control of what Bracket strategies, if any, they choose to deploy their brktETH into.

At the start of Phase II, Bracket protocol will cease any further escrow deposits or withdrawals. The escrowed collateral will now become the pooled treasury collateral for the newly minted brktETH. Users will then be able to claim their brktETH on on the Ethereum Network.

Once Phase II is open, you will be able to return to and access the claim screen. It will display your holdings with values at the time escrow closed, the total amount of equivalent ETH, and the amount of brktETH available to claim.

Escrow Break Process

Phase II will involve a breaking of staking escrow. There will be a few important steps the protocol will take to brktETH is properly allocated by the smart contract. 1. Assets currently on Arbitrum will be LOCKED 8-days prior to escrow break 2. These assets will bridge from Arbitrum to Ethereum to enable the brktETH allocation process on Ethereum 3. The process will be announced to the community prior to locking date 4. Certain assets that have de minimis balances will no longer be supported but will be withdrawable prior to locking, as well as redeemable via the brktETH redemption feature via redeem-swap to the asset after escrow break. Claiming brktETH is MANDATORY if you have assets in the protocol after lock and after the 22nd. There is NOT OTHER WAY to get assets out of the treasury.

Schedule for Phase II Asset Locks

Chain

Lock Date

Duration

Supported assets in Phase II

Asset

Ticker

Supported

Deploy your brktETH

Last updated 3 days ago