Alpha Vault implements a sophisticated vesting and token distribution mechanism with support for both pro-rata and first-come-first-served (FCFS) allocation modes.

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Linear Vesting Formula

The core vesting mechanism follows a linear time-based release schedule:

claimable_tokens=elapsed_time×total_bought_tokenstotal_vesting_duration\text{claimable\_tokens} = \frac{\text{elapsed\_time} \times \text{total\_bought\_tokens}}{\text{total\_vesting\_duration}}

Where:

  • elapsed_time = time since vesting start
  • total_bought_tokens = total tokens purchased by all users
  • total_vesting_duration = total duration of vesting period

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Individual Token Claim Formula

user_claimable=total_claimable×user_deposittotal_vault_deposit−already_claimed\text{user\_claimable} = \frac{\text{total\_claimable} \times \text{user\_deposit}}{\text{total\_vault\_deposit}} - \text{already\_claimed}

Where:

  • total_claimable = total tokens available for claiming at current time
  • user_deposit = individual user’s deposit amount
  • total_vault_deposit = sum of all user deposits in the vault
  • already_claimed = tokens already claimed by the user

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Refund Calculation Formulas

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Base Refund Calculation

refund=unswapped_amount×user_deposittotal_deposit\text{refund} = \frac{\text{unswapped\_amount} \times \text{user\_deposit}}{\text{total\_deposit}}

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Deposit Overflow Refund (Pro-rata Vaults)

overflow_refund=excess_deposit×user_deposittotal_deposit\text{overflow\_refund} = \frac{\text{excess\_deposit} \times \text{user\_deposit}}{\text{total\_deposit}}

Where:

  • excess_deposit = total deposits exceeding the maximum buying cap
  • unswapped_amount = tokens that weren’t successfully swapped

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Swappable Amount Calculation

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Pro-rata Mode

max_swappable=min⁡(total_deposit,max_buying_cap)\text{max\_swappable} = \min(\text{total\_deposit}, \text{max\_buying\_cap})

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FCFS Mode

max_swappable=total_deposit\text{max\_swappable} = \text{total\_deposit}

Where:

  • max_buying_cap = maximum tokens that can be purchased (for pro-rata mode only)
  • total_deposit = sum of all user deposits

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Vault Mode Specifications

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Pro-rata Mode

  • No maximum buying cap restriction
  • Distributes tokens proportionally among all participants
  • Provides refunds for excess deposits
  • Suitable for unlimited token sales

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FCFS Mode

  • Enforces maximum buying cap
  • Tokens distributed on first-come-first-served basis
  • No overflow refunds (all deposits are valid)
  • Suitable for fair distribution with limited token supply