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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.