veGEM

Voting rights obtained by locking GEMC

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%).