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  • Electra
    • About Electra
  • Electra Terminal Guide
    • 1.1 Connecting your EVM wallet
    • 1.2 BNB/ETH Gas Fees
    • 1.3 Deposits and Withdrawals
    • 1.4 1-Click Trading
    • 1.5 Notifications
    • 1.6 Electra Security & Audit Report
    • 1.7 Airdrop Checker FAQ
  • Electra Trading School
    • 2.1 What Are Perpetual Futures?
    • 2.2 Competitive Advantages of Electra for Perpetual Futures Trading
    • 2.3 Trading Fees on Electra
    • 2.4 Overview of Primary Order Types on Electra
    • 2.5 Futures Liquidation Protocols on Electra: Formula and Process
    • 2.6 How to Reduce the Risk of Liquidation on Electra
    • 2.7 Automatic Negative Balance Reset on Electra
    • 2.8 How to Adjust Leverage on Electra
    • 2.9 What Is Slippage?
    • 2.10 How to Use the Order History Feature on Electra
    • 2.11 Order Errors on Electra: Causes and Solutions
    • 2.12 Referral Program
  • Electra Tournaments
    • SQUAD Games Season 2
      • General Rules
      • How to Participate
      • Squad Formation
      • Squad Referral Links
      • Tournament Prizes
      • FAQs
    • SQUAD Games Season 1
      • Tournament Prizes
      • Tournament Schedule
    • PnL Challenge
  • Electra Liquidity Provider Pool
    • Introduction to ELPP
    • How ELPP Works
    • ELPP Tokens
    • Withdrawal System
      • Understanding Epochs
      • Timelock Calculation
      • Token Transfer Restrictions
      • Partial and Flexible Withdrawals
    • Collateralization
    • APY Calculation
    • Risks and Considerations
    • FAQ
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  • Normal Epochs
  • Global Epoch
  1. Electra Liquidity Provider Pool
  2. Withdrawal System

Understanding Epochs

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Last updated 2 months ago

The withdrawal system operates using two types of time intervals:

Normal Epochs

Duration:

  • Each normal epoch typically lasts 3 days, but the duration can be adjusted depending on protocol requirements. However, the epoch duration cannot be shorter than 1 day.

Calculation:

  • The current epoch is calculated using:

  • Any fractional part is discarded, resulting in discrete epoch numbers.

Usage:

  • Normal epochs manage daily withdrawal requests and short-term pool dynamics.

Example:

  • If the protocol launched on January 1, 2025, at 00:00:00 UTC with a 3-day epoch duration, then:

    • Epoch 0: January 1, 2025 – January 3, 2025, 23:59:59

    • Epoch 1: January 4, 2025 – January 6, 2025, 23:59:59

    • Epoch 2: January 7, 2025 – January 9, 2025, 23:59:59


Global Epoch

Duration:

  • A global epoch lasts 7 days.

Purpose:

  • At the end of each global epoch, the system aggregates trading results to update the fixed collateralization level.

Collateralization Update:

  • The pool's asset value is compared against the previous baseline.

  • If the pool’s value exceeds the baseline, a predefined percentage (e.g., 40%) of the profit is extracted to establish a new baseline.

Example:

  • If the pool value increases from 10,000 USD to 11,000 USD during the global epoch:

    • Profit: 1,000 USD

    • Profit extraction (40%): 400 USD

    • New fixed collateralization level: 11,000 USD – 400 USD = 10,600 USD

Impact on Profit Sharing:

  • Profits are distributed only if the pool’s value exceeds this baseline.

  • If the pool does not meet or exceed the baseline, profits are not distributed, and losses are carried over to the subsequent epoch.

Current Epoch=Current Timestamp−Start TimeEpoch Duration\text{Current Epoch} = \frac{\text{Current Timestamp} - \text{Start Time}}{\text{Epoch Duration}}Current Epoch=Epoch DurationCurrent Timestamp−Start Time​