veVS (veNFT)

veVS Utility

Trading Fee & Bribe Revenue

• As ve(3,3) mode DEX, veVS holders can participate in the protocol's governance and earn rewards by voting for gauges on a weekly basis.

• They will have access to 100% of the trading fees and 100% of the bribes for the associated pool.

Governance

• veVS holders can partake in governance and cast votes for the protocol improvement proposals, thus contributing to the protocol's growth and development.

veVS Specifications

• ve(3,3) Mechanics: The Olympus DAO anti-dilution method, commonly known as the rebase mechanism, is combined with Curve's vote-escrowed model in the Solidly-initiated ve(3,3) concept. The anti-dilution level for veVS has been capped at 30% to safeguard the holdings of veVS holders and enable a dynamic distribution of veVS among participants over time.

• Gauge: A pool with dynamic $VS rewards based on veVS weekly voting allocation. Negative voting is not allowed.

• Bribes: Custom amount of tokens paid by a third party on a gauge to veVS holders in exchange for their votes.

• Max Lock: 1 year.

• Farming Boost: This feature has not been included to prevent the emergence of profit-maximizing protocols on top of veSync. Instead, dynamic and decentralized governance over $VS emissions is fostered over time.

• Flexibility: veVS positions can be merged, split, and sold on the secondary market.

Voting

• To participate in veSync's voting system, it's important to be aware of epochs. Each epoch lasts for 7 days, after which the bribes and trading fees are distributed.

• Each epoch starts at 12 AM UTC time every Thursday.

• veVS holders only earn bribes and trading fees of the gauges (pools) you have voted for.

• Trading fees and bribes can be claimed as a lump sum after an epoch has ended.

• In order to be eligible for the fees and bribes, you must vote weekly. (veSync is building a voting optimizer to help you automatically cast your votes. Stay tuned.)

• You have the flexibility to change or reset your vote at any time.

• If you forget to vote, the weight of your vote will remain, but you will lose the bribes and trading fees.