🔓veSLIZ

Understanding and Using veSLIZ

  • veSLIZ is a center piece of the SolidLizard protocol. By locking their SLIZ, users get veSLIZ that allows them to vote for gauges on a weekly basis, and receive 50% of the trading fees (will increase over time) and 100% of the bribes for the associated pool.

  • veSLIZ holders will also be able in the future to partake in governance and cast votes for protocol improvement proposals.

veSLIZ Voters Receive

  • Trading fees generated by the pool(s) they vote for

  • Bribes deposited for the pools they vote for

  • Weekly veSLIZ rebase

veSLIZ Specifications

  • ve(3,3) Mechanics: The Olympus DAO anti-dilution method is combined with Curve's vote-escrowed model in the Solidly-initiated ve(3,3) Mechanics concept. This mechanism safeguards veSLIZ holders from dilution and enables a dynamic distribution of veSLIZ among participants over time. The anti-dilution level is capped at 30%.

  • Gauge: A pool with dynamic SLIZ rewards based on veSLIZ weekly voting allocation.

  • Bribes: Custom amount of tokens paid by a third party on a gauge to veSLIZ holders in exchange for their votes.

  • Max Lock: 4 years.

  • Flexibility: veSLIZ positions can be merged and sold on the secondary market.

Voting

  • To vote, it is important to be aware of epochs. Each epoch lasts for 7 days, after which the bribes and trading fees are distributed.

  • You earn only from the gauges (pools) you have voted for.

  • Trading fees and bribes are claimable as a lump sum after the epoch has ended.

  • You can change or reset your vote only at the next epoch

  • If you forget to vote, the weight of your vote remains, but you lose the bribes and trading fees.

  • Warning: once you vote, you won't be able to vote again for a period of 6 days (even if you didn't use all your voting power)

By participating in veSLIZ voting and governance, holders have the opportunity to earn trading fees, bribes, and weekly distributions. The ve(3,3) Mechanics, Gauge, Bribes, Max Lock, and Flexibility features of veSLIZ provide a unique and dynamic experience for users. Remember to vote weekly and stay informed about the epochs to fully take advantage of the benefits of holding veSLIZ.

  1. Rebase rewards claim is available one full epoch after tokens are locked. External bribe rewards are claimable after a new epoch has started (epochs increment right after 23:59 UTC each Wednesday).

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