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Get Voting Power
Overview:
veNFT (vote-escrow NFT) will be the vesting and revenue model of ApolloX DAO.
Note: Users can obtain veNFT by staking in ApolloX DAO. veNFT is non-transferable and its power linearly depreciates with time. The power is a proof of the user’s governance vote as well as dividend weight.
How to participate
Step 1: Go to [Lock & get veNFT] page
- DAO APY: user’s annualized percentage yield will be calculated based on a 7 days cycle.
- Your lock-up quantity: accumulated amount of locked APX.
- Your power: the sum of the power obtained by user’s total locked APX
- Your veNFT: the quantity of veNFT
Step 2: Click [Create new Vault], as shown in the following screenshot:
Details of parameters:
- Locked quantity: Users can input the amount of APX to be locked
- Locked period: Users can choose to lock APX for 60 days, 180 days, 1 year or 4 years. The lock-up time will be calculated from every Thursday. Users may see a reduction of 1 to 5 days on the actual lock-up time display on the right panel.
- Voting power: The voting power value is determined by the locked period, locked quantity and the expiry time. Click here to check out the formula for calculating power value.
- Unlock time: Based on current veNFT unlock time, the user’s power value will linearly depreciate as the unlock time shortens.
Note: Once users click to lock, the process cannot be terminated halfway. Please choose the locked period carefully.
Step 3: manage your veNFT as shown:
Number | Numerical value | Paraphrase |
01 | NFT ID: 74 | User NFT ID |
02 | 700 APX | locked APX quantity |
07 | 26.32 | The user's Power value, which linearly depreciates with time. |
09 | 2022/08/25 | Unlock time |
04&05 | Update lock-up information | Users can update lock-up information here, including locked quantity and locked period |
Once created, users can [manage] your cards and [claim] your rewards here.
Details for claiming DAO rewards:
- Users will receive rewards of the previous cycle on the last day of the next cycle.
- When veNFT expires, users will need to claim the rewards first before unlocking the locked tokens.
- Expired veNFT will be destroyed.
Last modified 5mo ago