📌 The ve Governance Pool allows staking $LION to receive veLION tokens, which can be used to participate in all future governance proposals and earn governance rewards. Unless otherwise stated in specific future proposals, governance rewards are sourced from the "Protocol Growth Incentives" portion of the $LION reserve in the protocol treasury.
📌 The ve Governance Pool imposes a 30-day lock-up period for staked $LION tokens, which begins at the time of deposit. Participants in governance receive real-time rewards of 2%, equivalent to a long-term governance APR of 24.3% (2%/30*365).
📌 veLION is a non-transferable ERC-20 token designed to prevent governance manipulation. The adoption of a uniform lock-up period further reduces manipulation risks. There is no fixed start or end time for the lock-up period, & multiple governance lock-ups are calculated separately. The portion that reaches the end of its lock-up period becomes redeemable.
📌 In future voting, $veLION carries a weight of 2x, while circulating $LION and $esLION tokens carry a weight of 1x. Genesis NFTs in circulation still maintain a weight of 50,000x.
📌 Voting rights for this 48-hours proposal period are based on circulating $LION, $esLION, & Genesis NFTs. The $esLION in VEST and the staked $LION & Genesis NFTs DO NOT have voting rights for this particular vote.