> For the complete documentation index, see [llms.txt](https://gem-web3-vision.gitbook.io/wp/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://gem-web3-vision.gitbook.io/wp/phase-2.-gem-stocks/gemc-tokenomics/vegem.md).

# veGEM

Voting rights obtained by locking GEMC

<figure><img src="https://216355867-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FYKt90g2QnGi65YQ8do90%2Fuploads%2FMvZhqBaOJgBRKL656nvX%2Fimage.png?alt=media&amp;token=d97fe2f2-5af0-4fde-b823-f49ce5864e28" alt=""><figcaption></figcaption></figure>

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 <a href="#b45wih4ibpaw" id="b45wih4ibpaw"></a>

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