1 month (1/5 of the apy shown) or 12 months full apy
The earned (claimable) tokens accumulate at every block and can be claimed at any time (twice per month is a reasonable claim time, these rewards then unlock in either 1 month or 12 month depending on the vesting period you choose., the unlock date is then forward dated to the following unlock date which occurs on the 1st and 15th of each month
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