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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:
- 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
- veSKY is generated by ERC-721 and can be merged, divided, bought and sold.
- The veSKYs obtained by locking SKY are as follows.
- 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.
veSKY voters are entitled to receive SKY for rebasing (30%).