🤌Escrowed $IBET = $esIBET

$esIBET is an innovative staking derivative that will be automatically rewarded to $sIBET holders. It acts as an escrowed version of $IBET that is automatically staked to earn rewards, similar to $sIBET.

With $esIBET, users auto compound their staking rewards, as it is automatically staked to earn more rewards.

Users who hold $esIBET tokens can vest them over a 9-month timeframe, being unvested every minute and claimable at any time. During the vesting period, you will not receive any staking rewards.

To vest the $esIBET tokens, users will have to re-stake the average number of $IBET tokens used to earn the $esIBET rewards.

Why Did We Choose $esIBET over $veIBET?

Voted-escrow tokenomics was a significant innovation when it was first introduced in the 2021-2022 cycle.

However, the first iteration of this system had some issues. Leading DeFi protocols have since adopted the escrowed token model which offers several benefits. These benefits include:

• Opportunity costs: Token holders must decide between vesting their tokens to earn protocol revenue or keeping them as is to generate greater returns.

• Effective supply reduction: Due to the vesting schedule and the need to stake $IBET to vest $esIBET, short-to-medium-term supply reduction is achieved. Long-term reductions are also realized as not all users will vest their $esIBET.

• Reduce immediate sell pressure: The inability to sell $esIBET tokens directly and no liquidity being offered on exchanges by the core team, significantly reduces the sell pressure. In addition, the vesting requirement ensures that these tokens can only be sold once InsanityBets has solidified itself as the top CasinoFi protocol in crypto.

• Revenue sharing for long-term stakers: Similar to voted-escrow tokens, the revenue share from $esIBET ensures that long-term stakers benefit from an auto-compounding yield as long as they do not vest their tokens.

The InsanityBets community will, in the future, vote on the emissions schedule for $esIBET on Snapshot.org (or similar).