A user must navigate to the Warp.Finance UI with the wallet that contains their IOU tokens. Notice: There will be a six-month vesting period for Warp’s IOU Tokens. Upon TGE, users are able to obtain 1/6th of their proportional share of Warp tokens. From this point onwards, users are able to redeem their Portal IOU tokens for Warp Tokens before the end of this vesting period. If users wait until the vesting period ends to redeem their Portal IOU tokens for Warp Tokens, the users will receive their full proportional share of the tokens allocated to the Portal IOU tokens. However, if users redeem partway through the vesting period, they will redeem the tokens that have vested thus far, but forfeit their remaining tokens.
As such, users who wait until the end of the vesting period will be eligible to obtain the forfeited share of tokens of early redeemers. Meaning, the remaining users who redeem later obtain the tokens forfeited by other users for vesting early.
Upon authorizing the contract, you are able to insert the amount of IOUs and claim Warp. This process requires 2 separate transactions. The user then must “lock” their IOUs. The IOU becomes locked in the smart contract after this transaction is executed, and can no longer be withdrawn. At this point, the user has 2 options. Either, they can continue locking their IOUs to make them eligible for the WARP tokens that other users have forfeited by not waiting for full vesting, or they can click “Claim.”
As a result long term supporters will earn a larger share of Warp from this redemption program. For further clarification, if a user wants to be eligible for the shares that users have forfeited they MUST lock their IOU tokens in Warp Finance.
After successful transaction you are able to claim your Warp tokens.
Upon clicking on "Claim" a modal pops up that let's you chose the amount you would like to claim or donate to the white hat hackers that helped Warp. You can then view on Etherscan that the transaction has been confirmed.
Congratulations! You successfully claimed your WARP tokens and can trade these or participate in the Warp geyser! The WARP token is currently tradeable on Uniswap and got listed at the implied WARP price based on the IOU which was $277.