Planetfinance
Planetfinance lending: Green Planet Withdrawal Rights
Green Planet is Planet Finance’s application for earning interest on supplied crypto assets and borrowing against supplied collateral. Its gTokens represent a supplier’s withdrawal claim, and a completed transfer of those receipts moves the corresponding claim to the recipient. Receipt ownership does not guarantee immediate redemption when market liquidity is limited.
Supply Receipts and Borrowing
In Green Planet’s documented supply flow, a supplier selects an asset already held in the wallet and activates it, then enters an amount and submits the supply. Green Planet issues gToken receipts to the wallet once the supply is confirmed. The protocol uses these tokens to track entitlement to the supplied assets and burns them during withdrawal. For supplied AQUA, the documented receipt token is gAQUA.
Borrowing uses supplied collateral, while the documented GAMMA discount-level design relates the USD value of staked GAMMA to the USD value of supplied collateral. These borrowing terms concern access to credit and its cost. They are separate from the receipt mechanism that records a supplier’s withdrawal claim.
Transfers Change Control of the Claim
A gToken transfer passes the withdrawal right represented by the transferred receipts to another address. The address that originally supplied the funds no longer controls that portion of the claim. Transferring receipts and withdrawing underlying assets have different results: a transfer changes the receipt holder, while a withdrawal burns the relevant receipts.
A Partial gAQUA Transfer
How much of a supply claim remains with its original holder after a partial receipt transfer? In a hypothetical Green Planet position, wallet A holds 86 unlocked gAQUA, wallet B holds 0 gAQUA and there is no borrowing against the position. Wallet A completes a permitted transfer of 26 gAQUA to wallet B.
The remaining balance is
86 - 26 = 60
gAQUA. Wallet A retains the withdrawal entitlement attached to 60 receipts, while wallet B holds the entitlement attached to 26 receipts. This split applies while those receipt balances remain unchanged. The calculation counts gAQUA receipts; it does not establish the amount of underlying AQUA payable on redemption, which remains subject to the market’s applicable withdrawal conditions and available liquidity.
Infinity Vault Exit Terms
Planet Finance’s AQUA and GAMMA Infinity Vaults accept the corresponding Green Planet gTokens and issue iAQUA or iGAMMA as receipts for the vault position. Unstaking burns the iTokens. This adds a staking layer to the original lending claim.
- Standard Unstaking
- The documented terms for both vaults specify a 21-day unstaking period and a 1% standard unstake fee. Assets waiting in that unstaking process earn no GAMMA rewards during the wait.
- Instant Unstaking
- Both vaults list a 5% fee for bypassing the 21-day unstaking period.
- Cancellation
- Pending unstaking can be canceled. The affected tokens return to the staked balance inside the Infinity Vault and the unstaking process stops.
Unstaking from an Infinity Vault and redeeming a Green Planet supply claim are separate operations. The 21-day clock described in the vault terms concerns unstaking; it does not establish a general timetable for all Green Planet withdrawals.
Liquidity and Redemption Timing
Green Planet’s reserve fund is designed to provide a liquidity buffer for withdrawals. Its reserve mechanism and interest-rate model aim to reduce short-term liquidity problems. A supplier’s receipt balance establishes the claim, while immediate redemption also requires available market liquidity. Before withdrawing collateral, borrowers must repay their debt or retain enough collateral to keep any remaining debt within the borrow limit.
