KPI stands for Key Performance Indicator.
A KPI option is a financial product that becomes more valuable if a certain KPI the issuer cares about is met. These are intended to incentivize option holders to work towards meeting those KPIs.
uTVL-0621 was the UMA's first KPI option product. Its value depended on the total value locked (TVL) in the UMA protocol by the end of June 2021. Each option token ended up being worth 0.11 UMA at expiry.
uTVL-0621 is a call options that is redeemable for 0.11 UMA tokens - a value that depended on the TVL of UMA at expiry on June 30 2021.
As the option has now expired, you are unable to claim any that you would have been eligable for.
If you hold uTVL_0621 you are now able to redeem them.
- Go to the UMA Claims Dapp
- Click Connect Wallet to Redeem Options
- Select a wallet provider and follow instructions
This is an airdrop, which is as close as it gets to free money falling from the sky. However, you should be aware of that redeeming the options requires gas fees to be paid. Note that gas is used to reward miners for keeping the network alive and that UMA does not benefit from this.