Protocol fees and rebase VELO emission earned by VELO stakers for the last year
Governance utility derived from managing VELO emissions
VELO lock-up stats
Represents VELO 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 VELO tokens into an ERC721 NFT representing a user's locked position.
[7] = ƒ(lock_period, amount_locked, price_at_locking)
lock_period — is the length of the lock-up period set up by the useramount_locked — is the amount of tokens locked up by the userprice_at_locking — is the price of the locked token position when locking them. It defines the locked value (the upper bound of forfeited value) together with the locked amountReflects the rebase yield distributed to veVELO 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, VELO uses an integral offset of this risk in the form of emissions (rebases) directed to all veVELO holders.
[22] = ƒ([7], veVELO_supply, VELO_supply, emission_total)
emission_total — is the total token emission volumeveVELO_supply — is the supply of veVELO; that is, the totality of the voting power that determines the size of the locked portion of VELOVELO_supply — is the total supply of VELO. 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 VELO emission.
[3] = ƒ([7], [8], user_vote_allocations, emission_distribution)
user_vote_allocations — is the allocation of voting power by the user, representing his overall allocation voting strategyemission_distribution — is the resultant distribution of epochal emissions, representing the actual voting outcomeReflects the pro rata rewards from trading fees and additional incentives for voters. This dual reward stream incentivizes strategic voting behavior by allowing veVELO holders to capture value from both organic protocol activity (trading fees) and external stakeholder interests (bribes/incentives), creating a market for governance power.
[21] = ƒ([3], pool_fees, pool_incentives)
pool_fees — is the volume of cashflow derived from fees in the voted-for poolpool_incentives — is the volume of cashflow derived from extra incentives provided by the owner of the voted-for pool (cf. other bribe markets)