Proposal for an unshETH ($USH) Syrup Pool and Farm

PancakeSwap Welcomes unshETH ($USH) to Syrup Pool!

Dear CAKE holders, we’re proud to announce a new Syrup Pool with unshETH!

unshETH is a DeFi protocol that allows users to deposit their Liquid Staking Tokens (LSTs) to mint unshETH, a “basket” of ETH LSTs.

The protocol aims to improve validator decentralization among the different Liquid Staking Protocols via incentives. When the deposit ratio of the different LSTs is closer to the “optimal ratio” set by governance, unshETH holders will collectively earn higher yields as a result.

The Syrup Pool:

Stake CAKE tokens to earn USH tokens!

• Total Tokens: 300,000 USH
• Distribution duration: 90 days
• Start time: Approx. 1500 UTC on 9 Aug 2023
• Finish time: Approx. 1500 UTC on 7 Nov 2023
• Token rewards per block: 0.1157 USH

Max Stake per Wallet:

100 CAKE for the first 48 hours of the Syrup Pool.

The cap is to give everyone an equal opportunity to farm rewards at a high APY at the start of the farm.

The Farm:

In conjunction with the USH Syrup Pool, we’ll be providing an unshETH-ETH (0.05% fee tier) and a USH-BNB (1% fee tier) v3 farm on BNB Chain.

The unshETH-ETH (0.05% fee tier) v3 farm will have 1.5x CAKE rewards, while the USH-BNB (1% fee tier) v3 farm will have 5x CAKE rewards for 90 days. During and at the end of the 90-day period, the farms will be re-adjusted to a lower or zero multiplier unless the following metrics are comparable with other farms of a similar multiplier: average daily volume, 14-day volume, unique token holders on BNB Chain, and there are no fundamental token issues or concerns related to users’ safety and security.

We request for further flexibility in the multiplier, fee tier, and duration of the farms. The aggregate CAKE emission to all unshETH farms will remain the same, but we may adjust the multiplier, fee tier, and duration of the farms to ensure high utilization rates, ultimately maximizing CAKE burn from trading volume.

What is $unshETH?

The unshETH Ether token represents a diversified liquid staked ETH basket that earns both Ethereum staking rewards and swap fees generated by the unshETH Validator Decentralization Automated Market Maker (vdAMM), all wrapped in a single ERC-20 token. unshETH Ether is also an omnichain token that can be transferred seamlessly across ETH Mainnet, BNB Chain, and Arbitrum.

Within the unshETH ecosystem, users can:

• Mint unshETH by depositing a supported ETH LST
• Redeem a mix of the underlying LSTs proportional to the current deposit ratio for each unshETH
• Earn ETH staking yield by simply holding unshETH
• Swap between supported LSTs and ETH up to their maximum weight as determined by the “optimal ratio” set by governance
• Earn swap fees by simply holding unshETH

For more information on how to interact with unshETH, visit here

How do I get $unshETH on BNB Chain?

There are two ways to get unshETH on BNB Chain

• Deposit BNB or USDT on BNB Chain here and receive unshETH. The protocol handles all the back-end work for users, read more here
• Mint unshETH on Ethereum here and bridge it over to BNB Chain here

What is $USH?

USH is the governance and incentive token to accelerate the growth of unshETH’s TVL and liquidity, and to foster competition among liquid staking protocols through a convex-style ve-locked USH system.

Staked USH (vdUSH) governs:

• Index composition of unshETH, such as the types of supported LSTs and their respective weights within the index
• Allocation of USH incentives and partner protocol incentives
• Fee curve parameters and fee switch

To learn more, visit the project’s official channels:

• Website: http://unsheth.xyz/
• Twitter: https://twitter.com/unsheth_xyz
• Discord: https://discord.gg/5tZXASh5P3
• Blog: https://mirror.xyz/0x749Dc728A68265e74754Ad8e6cc2649BD42a8f8a
• Dune: https://dune.com/unsheth/unshethxyz
• Bridge: https://unsheth.xyz/bridge

How do you stake CAKE to earn $USH rewards?

Follow this guide to staking in Syrup Pools:

https://docs.pancakeswap.finance/products/syrup-pool

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️💀

The official unshETH token contract address on BNB Chain is: https://bscscan.com/token/0x0Ae38f7E10A43B5b2fB064B42a2f4514cbA909ef

The official USH token contract address on BNB Chain is: https://bscscan.com/token/0x91d6d6aF7635B7b23A8CED9508117965180e2362

​Any other unshETH and USH tokens will be a scam. Always verify the token address before buying tokens. If you receive an unshETH or USH token airdrop from another address, it’s probably a scam, and we advise you to ignore it.