USX 백서 전문

s 20.00% 200,000,000 Core contributors building Solstice Airdrops 10.00% 100,000,000 Flares campaigns Strategic TVL Partners 8.00% 80,000,000 Institutional partners delivering USX TVL Public Sale 0.29% 2,854,223 Legion public sale Vesting Schedule Two percentages matter when reading this table. Supply % is the bucket's share of total supply; TGE % is the portion of that bucket released at TGE, with the rest unlocking per the cliff and vesting schedule. Multiply the two for the bucket's day-one contribution to circulating supply: Foundation at 24% of supply with 50% unlocked at TGE put 12% of total supply in circulation. Allocation Supply % TGE % Cliff (months) Vesting (months) Foundation 24.00% 50.0% 0 20 Community 37.71% 21.2% 0 36 Team & Advisors 20.00% 0.0% 12 24 Airdrops 10.00% Varied Varied Varied Strategic TVL Partners 8.00% 25.0% 0 12 Public Sale 0.29% 100.0% 0 0 Initial circulating supply at TGE was approximately 24% of total supply, and community buckets unlock before the team's. September 2026 update. The Foundation re-phased 75,000,000 SLX (7.5% of total supply) into the September 2026 release, drawn from the Foundation, Community, and Airdrops allocations. Total supply, every allocation's final size, and the May 2029 completion date are unchanged. The Foundation allocation completes its releases in January 2028, and later releases are reduced to repay the earlier ones. The amended schedule is on file with our exchange partners. Distribution mechanics only. Not investment advice. References to burns describe planned actions and are not guarantees. Parameters may be updated for risk, market, or compliance requirements. Previous SLX Next stSLX ## /solstice-for-users/stslx stSLX stSLX is the liquid staking token received for staking SLX: your share of the staking vault. It's non-rebasing, so the token count in your wallet stays the same while rewards accrue into the exchange rate; there's nothing to claim or compound. Token Design Property Description Type Liquid staking token, non-rebasing Backing Proportional share of SLX in the staking vault Minting Issued when SLX is staked into the vault Burning Burned when stSLX is unstaked back to SLX Yield Source SLX rewards streamed from the Solstice treasury via a buffer vault Cooldown 7 days to unstake Transferable Yes Governance When locked How It Works Stake SLX in the staking vault and receive stSLX at the current exchange rate The treasury streams SLX rewards into the vault through a buffer, and the exchange rate rises as they accumulate Unstake with a 7-day cooldown to withdraw SLX at the current exchange rate, accumulated rewards included How the Yield Is Set A cycle is a defined period with preset base rate and distribution parameters; you can stake or unstake at any time during one. A multi-signature governance group sets each cycle's terms through onchain transactions, and changes take effect only at quarterly cycle boundaries, never mid-cycle. The current formula ties staking rewards to eUSX performance: stSLX APY = cycle base rate - eUSX APY (7-day rolling average) When eUSX yield is high, more of the base rate is already covered by protocol performance; when it compresses, more SLX flows from the treasury to make up the difference. The two are designed to move in opposite directions. In a cycle with a 20% base rate: eUSX at 5% puts stSLX at 15%, and eUSX at 12% puts it at 8%. The current cycle's base rate, dates, and estimated APY are in the app . Rewards reach the vault through the buffer as a gradual stream rather than lump-sum injections, so the rate holds steady within a cycle instead of spiking with individual distributions. APY is indicative and may vary. The base rate is set per cycle, but actual rewards depend on eUSX performance and vault conditions. Check the app for current rates. Trading Yield on Exponent stSLX has PT and YT markets on Exponent : PTs carry a fixed rate on the staking yield, YTs carry the variable side. Both trade without unstaking. Solstice doesn't run official stSLX pools on DEXs. Unstaking Initiate an unlock from the staking vault: the cooldown is 7 days, yield stops at the unlock request, and your exchange rate locks at that moment. Cancel before the cooldown expires to resume accruing. Locked stSLX Locked stSLX is the access key to protocol privileges; the full unlock list is on SLX . Instant Unlock, instant redemption for eUSX without the standard cooldown, activates in a later phase. stSLX is a protocol utility token only. All yield references are indicative and not guaranteed. Past performance does not guarantee future results. Parameters may be updated by governance for risk, market, or compliance requirements. This content is for informational purposes only and does not constitute financial advice. See Risk Disclosures for more information. Previous Tokenomics Next Flares Overview ## /solstice-for-users/flares Flares Overview Flares are non-transferable points that track your contribution to the Solstice protocol. At the end of each season they convert proportionally into SLX allocations, and the allocation pool grows as protocol TVL increases. For background on SLX and how the token ecosystem works, see SLX . How Flares Work Hold eligible assets: USX , eUSX , or positions in supported protocols (Kamino, Exponent, Orca, Raydium). Only your single highest-value position in the same token pair or pool counts. Flares accrue through daily quests, hold activities, partner pool participation, and referrals. Multipliers stack on top: global multipliers apply across all activities, activity multipliers apply to specific quests, and the combined cap varies by season. At the end of a season, your Flares set your proportional share of the SLX allocation: Your Flares ÷ Total Flares × SLX Campaign Allocation Getting Started Connect your Solana wallet at app.solstice.finance/earn-flares Accept the Terms & Conditions to start tracking activity Use the same wallet for all activities; Flares are tied to the wallet address You can run several wallets, but each is tracked independently. The dashboard shows your TVL, Flares, multiplier status, and season details. Live earning is on Season 3 . Seasons The program runs in seasons, each with its own quests, multiplier rules, and reward mechanics. Season 1 Season 2 Season 3 Status Closed Closed Live Focus Early adoption and activity Long-term capital commitment Continued capital commitment Multipliers Applied daily Applied once at end of season Applied once at end of season TVL tracking Balance-based Tranche-based with 7-day maturity Tranche-based with 7-day maturity Dates Protocol launch through S1 snapshot Through Aug 1, 2026 Aug 1, 2026 through Dec 1, 2026 Season 3 : live quests, loyalty, YT maturity rules, and eligible TVL Season 2 : closed season record (loyalty tiers, quests, referrals) Season 1 : closed season record (snapshot, cohorts) Claims and Vesting When a season ends, claim your SLX allocation through the Claims Portal and choose a vesting plan where required. Each season has its own claim rules. Claims and Vesting : which season is open and where to go Season 2 Claims and Vesting : current claim window (no registration period; 6- or 9-month plans) Season 1 Vesting : ongoing S1 unlock schedule Flares are reward points only. No cash value, non-transferable. All rewards are subject to the Terms & Conditions and the applicable Campaign Terms. Solstice reserves the right to modify campaign mechanics at any time. Previous stSLX Next Season 3 ## /solstice-for-users/flares/season-3 Season 3 Season 3 continues long-term capital commitment on the same core rules as Season 2: loyalty for returning capital, a path for new entrants, matured TVL, and end-of-season multiplier settlement. Season 3 runs from Aug 1, 2026 at 9pm SGT through Dec 1, 2026. Season 2 earning is closed. Claim Season 2 SLX on Season 2 Claims and Vesting . For background on SLX, see SLX . What's Different from Season 2 Season 2 Season 3 Status Closed Aug 1, 2026 Live through Dec 1, 2026 Multipliers Applied once at end of season Applied once at end of season TVL baseline Season 2 TWA Season 3 TWA (tracked per season) Loyalty 4 tiers vs your TWA Same structure vs your Season 3 baseline New users New Entrant Multiplier New Entrant Multiplier Exponent YTs Deposit-value TVL while open Same while open; maturity zeros that TVL (see below) strcUSX Not in season quests at close Senior and Junior hold quests live; launch boost until first dividend Multipliers are calculated once at the end of Season 3, not daily. Quest rewards, like the daily USX hold, accrue throughout the campaign and settle at the end. Getting Started Connect your Solana wallet at app.solstice.finance/earn-flares Hold eligible assets: USX , eUSX , strcUSX Senior or Junior, or positions in supported protocols Flares accrue through daily quests and TVL contribution; holding eligible assets with a connected wallet is all it takes TWA baselines by season TWA is tracked against each season. Season 1, Season 2, and Season 3 each have their own baseline numbers. Your Season 3 loyalty tier uses your Season 3 baseline. Season 2 vesting TVL uses your Season 2 baseline. They are separate. Loyalty Multiplier (prior-season participants) If you earned Flares in a prior season, you have a TWA baseline for Season 3: the time-weighted average of eligible TVL that sets the bar you defend this season. It is shown on your dashboard. Your loyalty multiplier depends on how well your current eligible TVL holds above it. TWA = sum of your daily TVL ÷ days since your first Flares-earning day in the relevant window Loyalty Tiers A minimum of 100 USX in eligible TVL is required for any multiplier. Current TVL vs your TWA Multiplier 100% or more 1.4x, Full Loyalty 50% to 99% 1.3x, Reduced Loyalty 20% to 49% 1.2x, Minimum Loyalty Below 20% 1.0x, no multiplier Grace Periods You get a buffer before a tier downgrade locks in: Drop below 100% of TWA: 24 hours to recover before falling to 1.3x Drop below 50% of TWA: 24 hours to recover before falling to 1.2x Drop below 20% of TWA: 72 hours to recover before the multiplier is lost Recover within the grace window and your tier holds. Miss it and the downgrade is permanent: tiers only go down, never back up. Keep your TVL above your Season 3 TWA baseline to hold the 1.4x multiplier. Brief moves between protocols are fine; sustained reductions are what trigger downgrades. New Entrant Multiplier Wallets with no prior-season Flares qualify for the New Entrant Multiplier (1.2x) with at least 100 USX equivalent in TVL that passes the 7-day maturity rule below. It is applied once at the end of the campaign and does not combine with the loyalty multiplier. If your TVL drops below 100 USX, you have a 72-hour grace period to restore it. Miss the window and the multiplier is permanently lost. TVL Maturity Season 3 rewards are based on matured TVL: deposits need to sit for 7 days before they count. Tranche Tracking TVL is tracked per deposit. Each deposit creates a new tranche, and withdrawals pull from the newest tranche first (LIFO), so your oldest, matured TVL stays protected. This prevents gaming the system by swapping out old capital for fresh deposits. Example: you deposit 5,000 USX on Day 1 and 3,000 USX on Day 5. On Day 6, you withdraw 2,000 USX. The withdrawal removes from the Day 5 tranche, preserving your fully matured Day 1 deposit. What Counts as TVL Your Season 3 TVL is made up only of Flares-eligible activity in the protocols and pools below: the positions that earn Flares, not everything in your wallet. Protocol What Counts Solstice USX held in your wallet YieldVault eUSX held in your wallet, valued at the current eUSX to USX rate strcUSX Senior and Junior strcUSX holdings, counted toward current TWA TVL Exponent YT and LP positions for the active maturity, including limit orders (PT does not count) Orca Both sides of LP positions in supported pools Raydium Both sides of LP positions in supported pools Kamino Lending deposits minus borrows, plus both sides of supported Liquidity Vault (LP) positions Loopscale Lending deposits minus borrows Only positions in the protocols and pools listed above count toward your Flares TVL. If a position is not earning Flares, it is not counted as TVL. The Allez vault is not included in TWA TVL. Exponent YT and TVL (while open) Exponent Yield Token TVL is tracked at the amount originally deposited, not the position's current market value. YTs lose market value as they approach maturity; that market decline alone does not reduce your TVL for multiplier purposes while the YT is still open . Example: you deposit 5,000 USX into a YT position. Your TVL records 5,000 USX. The market value drops to 2,000 USX before maturity. Your TVL stays at 5,000 USX until the YT matures. Exponent YT maturity during Season 3 When YTs mature, that TVL goes to $0 Season 3 overlaps Exponent YT maturity. The active USX income market matures on Sep 16, 2026 : Exponent USX market 16SEP26 At maturity: The matured YT position stops counting toward Flares TVL Your TWA TVL for that sleeve goes to $0 You no longer earn Flares or loyalty credit on the matured position If you are also on a Season 2 6-month vesting plan that relied on that TVL, vesting TVL drops the same way To keep Season 3 multipliers and Flares accrual (and Season 2 shorter-vesting TVL if applicable), redeploy into eligible TVL before grace windows expire: open the next YT market, or move capital into other eligible positions (USX, eUSX, strcUSX, supported Kamino / Orca / Raydium / Loopscale activity). What to do when YTs mature Check your eligible TVL and TWA on the Flares dashboard Redeploy into a new eligible YT round or other eligible positions Confirm TVL is restored within any loyalty or vesting grace window If you hold Season 2 6-month vesting, read Season 2 Claims and Vesting Quests Season 3 quests run across Solstice and partner protocols. Only your single highest-value position in the same token pair or pool counts toward rewards. The duration holds (1 month and 3 months) require maintaining that TVL continuously across the full period, measured on a time-weighted basis like the loyalty baseline. If your eligible TVL drops below the minimum during the window, the holding clock resets and the multiplier will not apply. Solstice Quest Multiplier Minimum Hold USX 10x 1 USX Hold USX - 1 month 6x 100 USX Hold USX - 3 months 15x 100 USX strcUSX Hold Senior or Junior strcUSX . strcUSX holdings also count toward current TWA TVL. Launch multipliers include a boost through the first strcUSX dividend distribution. After that first dividend is paid, multipliers step down to the ongoing rates. Quest Launch (through first dividend) After first dividend Hold Senior strcUSX 10x 5x Hold Junior strcUSX 20x 15x Check the Flares dashboard for which rate is active. The step-down happens when the first strcUSX dividend distribution is paid, not on a fixed calendar date. YieldVault Quest Multiplier Minimum Hold eUSX 2x 1 eUSX Hold eUSX - 1 month 4x 100 eUSX Hold eUSX - 3 months 10x 100 eUSX Exponent Quest Multiplier Farm USX Yield 30x Farm eUSX Yield 15x Supply USX LP 20x Supply eUSX LP 10x Kamino Applies to Kamino Liquidity Vaults, Multiply, and direct market activities. Quest Multiplier Supply to USDG/USX Vault 10x Supply to eUSX/USX Vault 5x Lend USDG 5x Lend USX 5x Lend eUSX 1x Borrow USX 1x Borrow USDG 1x Loopscale Quest Multiplier Lend USX 5x Borrow USX 1x Orca Both sides of each pool must be supplied; only the highest-value position in the same pair counts. Pool Multiplier (per side) USX/USDG 10x USX/USDC 9x eUSX/USX 4x Raydium Pool Multiplier (per side) USX/USDC 9x eUSX/USX 4x Referrals Referral tiers follow the Season 3 referral schedule in the app. Each referee links to only one referrer. Existing referral links and codes that still work in-app keep paying; you do not need to recreate them unless the app directs you to. After Season 3 When Season 3 ends on Dec 1, 2026, Flares convert to SLX allocations under the Season 3 campaign terms. Claim details will be published on Claims and Vesting before that window opens. Flares are reward points only. No cash value, non-transferable. All rewards are subject to the Terms & Conditions and the Season 3 Campaign Terms. Solstice reserves the right to modify campaign mechanics at any time. Previous Flares Overview Next Claims and Vesting ## /solstice-for-users/flares/claims-and-vesting Claims and Vesting SLX from Flares seasons releases through the Claims Portal. Each season has its own claim rules, vesting plans, and TVL requirements. Use this page to find the right flow. Current status Season Status Where to go Season 3 Earning now (through Dec 1, 2026) Season 3 : claims open after the season ends Season 2 Claims open from Aug 10, 2026 Season 2 Claims and Vesting Season 1 Daily vesting ongoing Season 1 Vesting Claims Portal Open the Claims Portal from the Solstice app when your season’s claim window is live. The portal shows your allocation, vesting plan options, unlock progress, and what you can claim now. Allocations are tied to the wallet that earned Flares. Wallet swaps after the claim list is locked are not supported. Before you claim Check your SLX allocation size on the Flares dashboard before paying any claim fee. Dust allocations may not be worth the fee. Wallets with less than 1 SLX of allocation are not eligible to claim. If you pick a shorter vesting plan that requires TVL, confirm your eligible TVL on the Flares dashboard. The Claims Portal does not show TVL. Exponent YT positions that mature drop that sleeve’s TVL to $0. Redeploy eligible TVL if you need to hold a TVL-linked vesting plan. Details are on Season 3 and Season 2 Claims and Vesting . Season differences at a glance Season 1 Season 2 Registration Separate registration window after snapshot No registration period: go straight to claims Vesting plans 3-month (TVL) or 9-month (no TVL) 6-month (TVL) or 9-month (no TVL) Unlock shape Rank-based Unlock 1 at TGE, Unlock 2, then daily Choice window, then first unlock and daily from Aug 20, 2026 Flares are reward points only. No cash value, non-transferable. All rewards are subject to the Terms & Conditions and the applicable Campaign Terms. Previous Season 3 Next Season 1 Vesting ## /solstice-for-users/flares/claims-and-vesting/season-1-vesting Season 1 Vesting Season 1 SLX allocations release in stages: a rank-based share claimed at TGE, a lump at Unlock 2, then daily vesting through a 3-month or 9-month plan. Registration and the vesting choice window have closed; what remains is claiming SLX as it unlocks and, for 3-month vesters, holding TVL. This page is Season 1 only. Season 2 claims and vesting are on Season 2 Claims and Vesting . Live earning is on Season 3 . SLX was reallocated from wallets that did not register. With lower than expected registration numbers, that reallocated SLX spread across fewer registered wallets, so most participants received more than their base allocation: 702 SLX went to every registered wallet, for most more than their original total airdrop. Unlock 1 by Rank Season 1 Flares rank set the share claimable at Unlock 1, available from TGE. The percentages apply to each personal SLX allocation: the 24th largest airdrop, for example, had 10% of its allocation unlocked on day one. Top ranks hold the largest allocations, so they unlocked the smallest share upfront. Rank Wallets Unlock 1 1-10 10 5% 11-50 40 10% 51-200 150 15% 201-1,000 80