Tokemak operates on epochs known as Cycles.
- Cycles are a week long period, beginning on Wednesdays and 'rolling over' to the next Cycle on the following Wednesday.
- If you deposit assets as an LP or stake TOKE as an LD mid-Cycle, you’ll begin to earn TOKE at the start of the next Cycle.
- Liquidity Providers' newly deposited assets will not be deployed as liquidity until the start of the next Cycle.
- When you want to withdraw, you must first “request” to withdraw, and assets will only then be able to be fully withdrawn at the start of the next Cycle. This is a two transaction process: first the "Request to Withdraw," then, when the Cycle rolls over, they can become fully withdrawable.
- New TOKE rewards become available at the end of a given Cycle and can be claimed anytime.
An LP can deposit their assets into a given Pair Reactor or Token Reactor at any given time. TOKE reward emissions for LPs will not begin until the assets are then deployed and locked for the duration of the next Cycle. These rewards will not be claimable until the end of the following Cycle.
Once an LPs assets are deployed, a request function can be called for the withdrawal of specified assets, however they will not be claimable until the beginning of the next Cycle. Once your assets are removed from deployment at the end of a Cycle, they will be staged for the user to either claim or redeploy.
An LD may stake TOKE to a Token Reactor at any time leading up to a new Cycle. An LD may then choose where to direct liquidity, however, the TOKE will not be actively directing liquidity until the rollover into the new Cycle. When the new Cycle begins, the LDs will start earning TOKE rewards and their chosen liquidity direction will be effectuated.
Once an LDs TOKE has been staked and the new Cycle begins, the chosen exchange where the liquidity has been directed may not be redirected until the start of the new cycle. The LD may choose to redirect this liquidity, but it won't be enacted until the Cycle rolls over. Similarly to the LP, the LD may submit a request to pull their TOKE from the system, however it will not be claimable until the end of the current Cycle. When the Cycle ends, the TOKE will be staged and can then be claimed. TOKE rewards are claimable at the end of a given Cycle, and can then be added to your current TOKE stake to compound liquidity directional power.
You can always see what Cycle Tokemak is currently in clearly in the upper left hand of the dashboard: