veTHE
Lock your $THE for voting power
- Protocol revenue access:
veTHEholders 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:
veTHEholders 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)
- 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
veTHEholders from dilution and to enable a dynamic distribution ofveTHEamong participants over time, the anti-dilution level has been capped at 30%. - Gauge: A pool with dynamic
$THErewards based onveTHEweekly voting allocation. No negative voting. - Bribes: Custom amount of tokens paid by a third party on a gauge to
veTHEholders 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
$THEemissions is fostered over time. - Flexibility:
veTHEpositions can be merged, split, and sold on the secondary market.
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.
Last modified 5mo ago