CVG Locking
Last updated
Last updated
Locking CVG
allows users to vote for gauge weights, participate in governance and claim shares on treasury yields. When a user locks CVG
, this lock is tokenized as an NFT
. This NFT
is associated with an amount of veCVG
, mgCVG
and/or ysCVG
, allowing anyone who holds it to vote and/or claim treasury rewards after each Treasury Distribution Event (TDE
). Users are be able to trade those NFTs
on the open market.
When a lock is created, it is offered to choose the percentage of CVG
that will be allocated to veCVG
, as well as the percentage of CVG
that will be allocated to ysCVG
. Users can choose to allocate the full CVG
amount to either veCVG
or ysCVG
only. In order to obtain mgCVG
, it is needed to allocate CVG
to veCVG
. Locking to ysCVG
only won't generate any mgCVG
.
A lock may be extended in amount (amount of CVG
locked) and in duration at any time. The maximum locking time is 96 cvgCycles
(approx. 1,8 years). Users may iterate on an existing locked position or create a new one at any time. A lock may end only on a tdeCycle
(cvgCycle
which are multiples of 12). When a lock expires, the NFT
must be burned to redeem CVG
.