$VS (veSync Token)

vsSync uses two tokens to manage its utility and governance:

  • $VS(veSync) — ERC-20 utility token of the protocol

  • $veVS — ERC-721 governance token in the form of an NFT (non-fungible token)

$VS is used for rewarding liquidity providers through emissions.

veVS is used for governance. Any $VS the holder can vote-escrow their tokens and receive a veVS (also known as veNFT) in exchange. Additional tokens can be added to the veVS NFT at any time. veVS can be increased, split up, and resold on a secondary market.

The lock period (also known as the vote-escrowed period, hence the ve prefix) can be up to 1 year(52weeks), following the linear relationship shown below:

  • 100 $VS locked for 1 year (52 weeks) will become 100 veVS

  • 100 $VS locked for 1/4 years (13 weeks) will become 25 veVS

The longer the vesting time, the higher the voting power (voting weight), and the rewards the veVS holder receives.

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