In order to confer voting power, WELL must be delegated or self-delegated.
[81] = binary
Delegated and self-delegated WELL can be used in onchain and offchain protocol governance.
[82] = binary
Represents extraction of tangible and/or intangible governance value derived from voting power delegation, i.e., the realisation of indirect governance participation.
[31] = ƒ([81], delegate_vote_allocations, user_strategy_representation)
delegate_vote_allocations — is the representation of allocations of votes by the user's delegate during the votinguser_strategy_representation — is the representation of the user's governance outcome preferencesWELL can be staked in the Safety Module on Base, Optimism, or Moonbeam to receive an equivalent quantity of stkWELL. The Safety Module backstops the protocol against "Shortfall Events" (smart contract exploits, liquidation failures, oracle failures). Up to 30% of staked assets may be slashed in such events.
In order to unstake WELL from the Safety Module, there is a required 7-day cooldown period.
Staked tokens are automatically self-delegated.
[7] = ƒ(staking_period, amount_staked, price_at_staking)
staking_period — the duration of the lock-up periodamount_staked — the amount of tokens locked up by the userprice_at_staking — the price of the locked token position at the moment of locking; defines the locked value together with the lockedStaking tokens into the Safety Module nets the user rewards denominated in $WELL. Details of the rewards computing mechanism are not made available by the protocol.
[2] = ƒ([7], rewards_allocated)
rewards_allocated — rewards allocated to the given stakerWELL is used as the sole token accepted as currency for the reserve auctions conducted every 6 hours, which allow the users to purchase reserve tokens (USDC, WETH, cbETH, &c) at a variable discount compared to the present market rates.
[1] = ƒ(exchange_volume, discount_rate)
exchange_volume — volume of WELL spent by the userdiscount_rate — effective discount rate for the userReflects the value originating from participating in decicision-making in the Moonwell Governance.
See the VCM section for details on governance.
[32] = ƒ([82], user_vote_allocations, user_strategy_representation)
user_vote_allocations — is the representation of allocations of votes by the user during the votinguser_strategy_representation — is the representation of the user's governance outcome preferences