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governance staking (veFOREX)
users can lock FOREX/fxUSD (80/20) Balancer Pool Token (BPT) into the handle governance pool to receive veFOREX - 'vote escrowed FOREX'.
holders of veFOREX, provide valuable 'locked' liquidity to the protocol, are in return are rewarded by being able to;
(i) participate in protocol governance,
(ii) up to 2.5x boosted rewards & superior APRs across a whole range of protocol actions - providing liquidity, trading & converting or referring new users.
(iii) receive a share of any protocol fees distributed to the governance pool, and
the longer the holder locks their FOREX/fxUSD (80/20) BPT, the more veFOREX they will receive and the larger their voting power and boosted rewards.
the minimum locking time one week epochs and the maximum, one year. 1 BPT locked for the maximum duration is equivalent to 1 veFOREX. a users veFOREX weight decreases linearly as the escrowed tokens approach their lock expiry.
the following is a breakdown of reward categories and where veFOREX boosts apply
category | veFOREX boost |
|---|---|
governance pool - FOREX/fxUSD | YES |
hLP depositors | YES |
fxKeeper pools | YES |
curve fxUSD - handle 3pool | YES* |
curve fxEUR | YES* |
trade & convert rebate % | YES* |
referral % | YES* |
*implementation in progress
**this tokenomic system draws from the innovative and foundational work implemented by curve.fi. we thank them for their inspiration and contribution to both defi and protocol tokenomics.
Last modified 3mo ago