veSKY
Voting rights obtained by locking SKY
veSKY (Vote-Escrowed SKY) is a voting token obtained by locking SKY. To encourage active voting, the following utilities are given:
veSKY utility
Distribution of protocol revenue: veSKY holders can claim 80% of the pool transaction fee (which later becomes 90%) and 100% of the bribe in proportion to the amount of votes cast, with weekly voting activity.
Participation in governance: veSKY and SKY holders can later join the DAO and be involved in proposing improvements to Sky Web3 Vision.
Users who vote with veSKY will receive the following benefits:
Can claim a distribution of transaction fees for the pools they vote in
Can claim bribes that went into the pool they voted in
Subject to weekly veSKY rebasing
Specification of veSKY
veSKY is generated by ERC-721 and can be merged, divided, bought and sold.
The veSKYs obtained by locking SKY are as follows.
| SKY Lockup period | % of veSKY acquired |
|---|---|
2 week | 1.59% |
6 month | 24.6% |
1 year | 49.53% |
2 year | 99.4% |
4 year | 200% |
Voting
You may vote once for each epoch using veSKY.
7 days are counted as one epoch.
Transaction fees and bribes can be claimed after the end of an epoch and across the next epoch.
If you do not vote for each epoch, you are not entitled to a reward in the corresponding epoch.
Once you have voted for a veSKY, you can get it back by using the reset operation.
Rebase
veSKY voters are entitled to receive SKY for rebasing (30%).
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