Understanding mgCVG

mgCVG stands for metagovernance CVG and represents a voting power over underlying protocols. mgCVG can be compared to vlCVX or vlAURA, as the metagovernance power held by mgCVG isn't time diluted.

The amount of mgCVG a user will receive by locking CVG depends on how long CVG are locked. The longer a user locks CVG, the more mgCVG his NFT will receive. mgCVG amount is equal to the initial veCVG amount and remains unchanged until the end of the lock.

For example:

  1. A user vote-locks 1,000 CVG for 96 cvgCycles: he will receive 1,000 mgCVG;

  2. A user vote-locks 1,000 CVG for 48 cvgCycles: he will receive 500 mgCVG.

mgCVG is used to vote on snapshots to participate in underlying protocols governance.

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