# ⚓ Welcome to Ethra Harbor **Dock your capital. Sail your yield.** Ethra Harbor is the DeFi layer of the Ethra ecosystem. It allows eligible users to deposit supported stablecoins into third-party DeFi vaults, share part of the yield generated, and receive **$vSHIP**, points, and eligibility for Mystery NFTs. Participation is subject to jurisdictional restrictions, platform terms, and applicable laws. --- ## How It Works ### 1. Deposit 💰 Deposit supported stablecoins into a Harbor vault, known as a **Berth**. Assets deposited through Ethra Harbor are allocated to selected Morpho vaults. Morpho is established DeFi infrastructure, but all DeFi protocols involve risks, including smart-contract vulnerabilities, liquidity issues, stablecoin depegging, and potential loss of assets. The specific vault, strategy, available liquidity, and estimated yield will be displayed before you deposit. ### 2. Your Deposit Generates Yield 📈 Your deposit may generate variable yield through the selected DeFi strategy. Depending on the mode you select, part of that yield may remain available to you and part may be contributed to the Ethra ecosystem. Yield rates are variable and are not guaranteed. Withdrawals remain subject to smart-contract functionality, available liquidity, network conditions, and the rules of the underlying protocol. ### 3. Choose Your Sail ⛵ | Mode | Yield allocated to you | Yield contributed to Ethra | Rewards | | ----------------------------- | ---------------------: | -------------------------: | ------------------------------------------------ | | **Half Sail** | 50% | 50% | $vSHIP and points based on the contributed yield | | **Full Sail** *(coming soon)* | 0% | 100% | $vSHIP and points based on the contributed yield | The more eligible yield you contribute, the more **$vSHIP** and points you may receive under the applicable campaign terms. ### 4. Receive $vSHIP 🪙 $vSHIP is a non-transferable participation token issued based on eligible yield contributed through Ethra Harbor. $vSHIP: * cannot currently be transferred, sold, or traded; * does not represent equity, vessel ownership, debt, or ownership of any underlying asset; * does not guarantee profit, financial return, or monetary value; and * does not currently provide an unconditional right to receive $SHIP. Subject to the successful launch of $SHIP, final token distribution terms, applicable laws, regulatory requirements, jurisdictional eligibility, and successful completion of KYC and sanctions screening, eligible $vSHIP holders may be able to claim $SHIP in the future. The $SHIP launch date, eligibility criteria, allocation method, claim ratio, vesting conditions, liquidity, market value, and exchange availability have not yet been finalised and are not guaranteed. ### 5. Earn Points and Become Eligible for Mystery NFTs 🎁 Under the current campaign structure: **Every $1 of eligible contributed yield = 10 points** Once you reach **1,00 points**, you may become eligible to claim a **Mystery NFT**, subject to the applicable campaign terms, availability, KYC requirements, and jurisdictional restrictions. Mystery NFTs are promotional digital collectibles. Their contents, utility, eligibility requirements, and claim conditions will be disclosed in the applicable campaign terms. --- ## Example Alice deposits **10,000 USDC** into a Berth displaying an estimated annual yield of approximately 4%. She chooses **Half Sail**. Assuming the yield remains at 4% for an entire year: * approximately **$200** of generated yield would be allocated to Alice; * approximately **$200** would be contributed to Ethra; * Alice would receive $vSHIP based on the eligible contributed yield; and * Alice would earn approximately **2,000 points**, potentially making her eligible for twenty Mystery NFT claims. This example is provided for illustration only. Actual results may be higher or lower. Yield rates, token rewards, asset prices, protocol conditions, and campaign terms may change. The example does not represent a promise or guarantee of returns or rewards. --- ## Why Ethra Harbor? * 🛡️ **Selected DeFi infrastructure** — assets are allocated to identified Morpho vaults, with available audit and risk information provided where applicable. * 🔍 **Transparent allocation** — users can review the selected vault, estimated yield, and chosen yield-sharing mode before depositing. * 🔓 **Withdrawal functionality** — users may request withdrawals subject to smart-contract operation, protocol conditions, available liquidity, and network conditions. * 🌊 **Part of the Ethra ecosystem** — supporting the development of maritime intelligence and real-world shipping applications. Use of audited protocols may reduce certain technical risks but does not eliminate the possibility of loss. --- ## What’s Next? * ⛵ **Full Sail mode** — planned for a future release * ⛓️ **Supported networks and assets** — announcement coming soon * 🪙 **$vSHIP and potential $SHIP distribution terms** — to be published before any claim process * 🎁 **Mystery NFT terms and reveal** — details coming soon Any future feature or token distribution remains subject to technical readiness, applicable laws, regulatory requirements, and jurisdictional restrictions. --- ## FAQ ### Can I withdraw my deposit? Users may request withdrawals through the platform. However, withdrawals are subject to smart-contract functionality, available liquidity, blockchain network conditions, and the terms and risks of the underlying DeFi protocol. Immediate withdrawal cannot be guaranteed in every circumstance. ### What is $vSHIP? $vSHIP is a non-transferable participation token issued based on eligible yield contributed through Ethra Harbor. It cannot currently be transferred, sold, or traded. It does not represent equity, ownership of a vessel, a financial instrument, or a guaranteed claim against Ethra. Eligible $vSHIP holders may become eligible to claim $SHIP in the future, subject to the successful launch of $SHIP, final distribution terms, KYC and sanctions screening, jurisdictional eligibility, and applicable legal and regulatory requirements. ### Is $SHIP currently available? No. $SHIP has not yet been launched or listed. There is no guarantee that $SHIP will launch on a particular date, be listed on an exchange, have available liquidity, or maintain any particular value. ### Is KYC required? Identity verification, sanctions screening, and jurisdictional eligibility checks may be required to use certain platform features. Successful completion of KYC will be required before any future distribution of $SHIP. Completing KYC does not guarantee eligibility to receive tokens. ### Which networks will be supported? Supported networks, stablecoins, and vaults will be announced before the relevant Berths open. ### What is inside a Mystery NFT? The contents and utility will be revealed in accordance with the applicable campaign terms. Eligibility, availability, and claim restrictions may apply. --- ## Important Risk Warning Ethra Harbor involves significant risk. Deposited assets may be exposed to: * smart-contract vulnerabilities; * protocol or governance failures; * stablecoin depegging; * oracle failures; * liquidity limitations; * blockchain congestion; * cyberattacks; * regulatory changes; and * partial or total loss of deposited assets or generated yield. Yield is variable and is not guaranteed. Past protocol performance does not predict future results. Ethra Harbor is not a bank account, savings account, deposit product, or guaranteed investment. Deposited assets are not protected by deposit insurance or any government compensation scheme. $vSHIP, points, Mystery NFTs, and any potential future $SHIP distribution should not be understood as guaranteed financial returns. Do not deposit assets that you cannot afford to lose. ---