Protocol fees and rebase AERO emission earned by AERO stakers for the last year
Governance utility derived from managing AERO emissions
AERO lock-up stats
Represents AERO lock-up for a period of up to 4 years, with a natively enabled permalock feature (in the sense of the ability to automatically extend the lock indefinitely). Voting power is linearly proportional to remaining lock time.
Note, that locking transforms ERC20 AERO tokens into an ERC721 NFT representing a user's locked position.
[7] = ƒ(lock_time, price_at_lock, locked_quantity)
Reflects the rebase yield distributed to veAERO holders for inflationary dilution protection. Typically, when an inflationary token is vote-locked, the relative weight of a user's position decays due to inflation. However, AERO inherits the VELO mechanism design and uses an integral offset of this risk in the form of emissions (rebases) directed to all veAERO holders.
[22] = ƒ([7], veAERO_supply, AERO_supply, emission_total)
emission_total — is the total token epochal emission volumeveAERO_supply — is the supply of veAERO; that is, the totality of the voting power that determines the size of the locked portion of AEROAERO_supply — is the total supply of AERO. Acts as a normalising coefficientRepresents participation in protocol governance (voting) to acquire governance value (bribes) and receive additional incentive (protocol fees)
[8] = binary
Represents governance value originating from influencing protocol-wise decisions, first of all AERO emission.
Holders of veAERO NFTs are able to vote on the following questions:
The governance value is accounted in monetary form (bribes). Bribes existence allows veAERO holders to generate value from external stakeholder interests (bribes/incentives), creating a market for governance power. Added to the cashflow section chart.
[3] = ƒ([8], user_vote_allocation, user_strategy_representation)
Reflects cashflow, originating from Aerodrome trading fees and distributed accordingly to veAERO weight .
All trading fees of each pool are given up by the LPs and used to remunerate the veAERO holders voting for emission of AERO to this pool proportionally to the weight of their vote.
The LPs are instead compensated in the form of AERO emission (see Governance).
[21] = ƒ([8], pool_fees, pool_incentives)