Question 1

What is Timeless (LIT)?

Accepted Answer

Timeless is a yield tokenization protocol that enables users to boost, hedge, and trade yield through innovative mechanisms. The platform introduces Perpetual Yield Tokens (PYTs) and Negative Yield Tokens (NYTs), allowing users to engage with yield markets in a perpetual manner. Central to Timeless is its liquidity engine, Bunni, which is built on top of Uniswap v3. Bunni represents Uniswap v3 liquidity positions as fungible ERC-20 tokens instead of NFTs, facilitating more complex incentivization schemes for liquidity providers.

Question 2

What is Timeless (LIT) used for?

Accepted Answer

The LIT token serves as the core component of Timeless' liquidity engine, Bunni, and facilitates several key functions:

* **Liquidity Incentives:**
LIT is used to incentivize liquidity provision on Uniswap v3. By representing liquidity positions as fungible ERC-20 tokens, Bunni allows for more efficient and flexible liquidity incentives.

* **Yield Tokenization:**
Timeless utilizes LIT to tokenize yield, creating Perpetual Yield Tokens (PYTs) and Negative Yield Tokens (NYTs). This system enables users to engage with yield markets in a perpetual manner, offering unique opportunities for yield optimization.

* **Yield Boosting and Hedging:**
Through the use of LIT, users can boost their yield earnings or hedge against yield volatility. By acquiring PYTs or NYTs, users can tailor their exposure to yield fluctuations according to their risk preferences.

Question 3

Token Migration and Rebranding

Accepted Answer

In early 2025, Timeless rebranded and migrated its token from LIT to BUNNI to align with the platform’s liquidity engine, Bunni. This transition aimed to unify branding and optimize the protocol’s incentive structures. The migration process followed a structured framework to ensure a smooth transition for users and liquidity providers.

Question 4

# Migration Framework

Accepted Answer

- **Conversion Rate:** LIT tokens were converted to BUNNI at a 1:1 ratio with no time limit on conversion.
- **New Supply Model:** The total BUNNI supply was set at 1 billion tokens.
- **Governance Transition:** The governance model shifted to a new system where BUNNI holders could lock their tokens for veBUNNI, which assumes governance control.
- **Legacy Rewards:** Existing veLIT holders continued receiving weekly BAL emissions and WETH distributions from remaining oLIT exercises.

Question 5

# Migration Bonus and Incentives

Accepted Answer

- **Bonus System:** Migration bonuses were distributed based on the remaining lock time of veLIT tokens, with longer commitments receiving higher rewards (e.g., a 3-year remaining lock earned a 75% bonus).
- **Liquidity Incentives:** An increase in veBUNNI allocations was introduced to encourage LIQ holders to migrate to the new ecosystem.
- **Fee Distribution Adjustment:** The new fee structure gradually shifted from a higher referral incentive model to a balanced distribution benefiting veBUNNI holders and the treasury.

Question 6

# Technical Implementation

Accepted Answer

- **New Staking Mechanisms:** A transferless staking contract was introduced for improved gas efficiency and permissionless liquidity mining incentives.
- **Epoch-Based Emissions:** The new emissions structure operates in 3-month epochs, with an initial allocation of 25 million BUNNI for the first epoch.
- **Alignment with Uniswap v4:** The migration strategically positioned Bunni v2 to take advantage of Uniswap v4’s launch, ensuring competitive liquidity incentives.

Question 7

# How to Migrate LIT to BUNNI

Accepted Answer

1. Open the [Bunni app](https://bunni.xyz) and connect your wallet.
2. Navigate to the [Swap UI](https://bunni.xyz/swap?chain=mainnet) on Ethereum Mainnet.
3. Swap LIT for BUNNI at a 1:1 ratio with no slippage.
4. If moving BUNNI to Arbitrum or Base, follow additional bridging instructions provided in the Bunni app.

***Although 'LIT' was the ticker assigned at the deployment of the Timeless Token's smart contract, it is in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this association and to avoid confusion in the marketplace, the alternative ticker 'BUNNIV1' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.***