💎
GEM Web3 Vision
  • 💎GEM Web3 Vision
  • 🔷Phase 1. GEM Hedge Fund
    • GEM Membership Pass NFT
      • NFT utility
      • INO Overview
      • INO Whitelist
  • 🔷Phase 2. GEM STOCKS
    • GEMC Tokenomics
      • Utility
      • veGEM
      • Initial Airdrop
      • Timeline after launch
    • Bribe
      • Token White List
      • Gauge
  • 🔷Phase 3. GEM Dollar
    • GemUSD Tokenomics
      • About conversion
      • GemUSD utility
      • GemUSD additional issuance and profit sharing
  • Roadmap
  • Q&A
  • Links
  • Security
  • Brand asset
  • Disclaimer
Powered by GitBook
On this page
  • veGEM utility
  • Specification of veGEM
  • Voting
  • Rebase
  1. Phase 2. GEM STOCKS
  2. GEMC Tokenomics

veGEM

Voting rights obtained by locking GEMC

PreviousUtilityNextInitial Airdrop

Last updated 2 years ago

veGEM (Vote-Escrowed GEM) is a voting token obtained by locking GEMC. To encourage active voting, the following utilities are given:

veGEM utility

  • Distribution of protocol revenue: veGEM holders can claim 80% of the pool transaction fee (which later becomes 90%) and 100% of the bribe in proportion to the amount of votes cast, with weekly voting activity.

  • Participation in governance: veGEM and GEMC holders can later join the DAO and be involved in proposing improvements to GEM Web3 Vision.

Users who vote with veGEM will receive the following benefits:

  • Can claim a distribution of transaction fees for the pools they vote in

  • Can claim bribes that went into the pool they voted in

  • Subject to weekly veGEM rebasing

Specification of veGEM

  • veGEM is generated by ERC-721 and can be merged, divided, bought and sold.

  • The veGEMs obtained by locking GEMC are as follows.

GEMC Lockup period
% of veGEM acquired

2 week

1.59%

6 month

24.6%

1 year

49.53%

2 year

99.4%

4 year

200%

Voting

  • You may vote once for each epoch using veGEM.

  • 7 days are counted as one epoch.

  • Transaction fees and bribes can be claimed after the end of an epoch and across the next epoch.

  • If you do not vote for each epoch, you are not entitled to a reward in the corresponding epoch.

  • Once you have voted for a veGEM, you can get it back by using the reset operation.

Rebase

veGEM voters are entitled to receive GMEC for rebasing (30%).

🔷