veTHE

Lock your $THE for voting power

veTHE Utility

• Protocol revenue access: veTHE holders can vote for gauges on a weekly basis, and access 80% of the trading fees (later 90%) and 100% of the bribes for the associated pool.

• Governance participation: veTHE holders can partake in governance and cast votes for the protocol improvement proposals.

veTHE voters receive:

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

• Bribes deposited for the pools they vote for

• Weekly veTHE distribution (rebase)

veTHE 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) Mechanics concept. To safeguard veTHE holders from dilution and to enable a dynamic distribution of veTHE among participants over time, the anti-dilution level has been capped at 30%.

• Gauge: A pool with dynamic $THE rewards based on veTHE weekly voting allocation. No negative voting.

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

• Max Lock: 2 years.

• Farming Boost: This feature has not been included to prevent from the emergence of any profit maxi protocols on top of THENA. Conversely, a dynamic and decentralized governance over $THE emissions is fostered over time.

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

Voting

For voting, you need to be aware of epochs. Each epoch lasts for 7 days, after which the bribes and trading fees are distributed. You earn only from the gauges (pools) you have voted for.

• Trading fees and bribes are claimable as a lump sum after the next Epoch has ended (n+2)

• You have to vote weekly in order to be eligible for the fees and bribes, unless you use an optimizer

• You can pre-approve your vote for a number of weeks in advance (coming soon)

• You can change or reset your vote at any time

• Vote weights reset each Epoch. You need to vote every Epoch in order to earn the bribes and trading fees.

How to create a veTHE position?

Guide here.

How to vote and earn with veTHE?

Guide here.