How to Exercise and Claim Tokens
This guide will show you step-by-step how to convert your allocation into tokens. While you can claim and exercise tokens separately, you can do both in a single transaction to save gas. If you wish to exercise and claim together, visit Claim Tokens.
Note that you are only eligible to exercise your tokens once the owner of the cap table has distributed a Token.
In the allocation section of the portfolio page, you will see how much you've vested, and how much you can exercise and claim. Once you have vested some allocation, you will be able to exercise your vested amount.
After clicking the "exercise" option, you can pick the group to exercise from and how many tokens to exercise. The % you were allocated in the cap table is shown in tokens.
You won't need to pay anything if there's no exercise cost set by the owner. In case they have, you will pay an according amount in exercise fees to how many tokens you wish to exercise. For example, if the exercise fee is 0.0001 USDC and you want to exercise 2% of the total supply, you will see the following cost.
If there's an exercise cost, the platform asks for approval before transferring exercise fee. If not, you can directly exercise. Once you've exercised, you officially own the ERC1155s that represent your allocation and you are eligible to convert them to the underlying asset by claiming!
Claiming is the process of converting your exercised allocation into the distribution token.
To claim and exercise at once, you can directly click the "exercise & claim" button which will pop up the following modal. The same exercise cost procedure will occur here as in Exercise Tokens.
If you've already exercised and just want to claim, your claimable amount will display the exercisable value. The maximum amount you can claim is shown, which is your exercised balance.
Once you click on "claim", a modal will be displayed where you can select your group and how much you wish to claim. Congratulations 🥳🥳, you have officially converted your allocation into the underlying asset!