🎫Get Voting Power

Overview:

veNFT (vote-escrow NFT) will be the vesting and revenue model of APX DAO.

Note: Users can obtain veNFT by staking in APX 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 180 days, 1 year, 2 years 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. The formula for calculating Power value = Weight * LockAmount

  • Weight=x*y，x as the time weight factor，x=1/(4*365*86400), y= number of days remaining from the current time to the unlock time

  • LockAmount：User stake quantity

  For example: If the user stakes 1 APX with 4-year locking period，the Power value will be[1/(4*365*86400)*(4*365*86400)]*1=1 on the day 2.

• 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.