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  • Understanding and Utilizing veLIQUIFY
  • veLIQUIFY Voters Receive
  • veLIQUIFY Specifications
  • Voting
  1. INFORMATION

veLIQUIFY

Understanding and Utilizing veLIQUIFY

VeLIQUIFY is a cornerstone of the LIQUIFY protocol. By locking their LIQUIFY tokens, users obtain veLIQUIFY, granting them the ability to vote for gauges weekly and receive 50% of the trading fees (which will increase over time) and 100% of the bribes associated with the chosen pool. In the future, veLIQUIFY holders will also participate in governance and cast votes for protocol improvement proposals.

veLIQUIFY Voters Receive

  1. Trading fees generated by the pool(s) they vote for

  2. Bribes deposited for the pools they vote for

  3. Weekly veLIQUIFY rebase

veLIQUIFY Specifications

  • ve(3,3) Mechanics: The Olympus DAO anti-dilution method is integrated with Curve's vote-escrowed model in the Solidly-initiated ve(3,3) Mechanics concept. This mechanism protects veLIQUIFY holders from dilution and enables dynamic distribution of veLIQUIFY among participants over time. The anti-dilution level is capped at 30%.

  • Gauge: A pool with dynamic LIQUIFY rewards based on veLIQUIFY weekly voting allocation.

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

  • Max Lock: 4 years.

  • Flexibility: veLIQUIFY positions can be merged and sold on the secondary market.

Voting

  • Be aware of epochs, which last for 7 days. Bribes and trading fees are distributed after each epoch.

  • Earnings come exclusively from the gauges (pools) you vote for.

  • Trading fees and bribes can be claimed as a lump sum after the epoch ends.

  • Votes can only be changed or reset at the next epoch.

  • If you forget to vote, your vote's weight remains, but you forfeit the bribes and trading fees.

Once you vote, you cannot vote again for 6 days (even if you didn't use all your voting power).

By engaging in veLIQUIFY voting and governance, holders can earn trading fees, bribes, and weekly distributions. The ve(3,3) Mechanics, Gauge, Bribes, Max Lock, and Flexibility features provide a unique and dynamic user experience. To fully benefit from veLIQUIFY, remember to vote weekly and stay informed about the epochs.

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Last updated 1 year ago

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