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 second cycle.
- When veNFT expires, users will need to claim the rewards first before unlocking the locked tokens.
- Expired veNFT will be destroyed.
- For more information on reward distribution, please refer to: Fee Distribution
Risk Warning: Crypto futures trading carries a substantial risk. All trading activities are done at your discretion and at your own risk. The information here should not be regarded as financial or investment advice from ApolloX. ApolloX will not be liable for any loss that might arise from your use of ApolloX.