Locking EPX for vote weight.
23 Apr 2022, 17:19
đź“ŤLocking EPX for vote weight
EPX can be locked for periods from 1 to 52 weeks for platform fees, voting on the eligibility of pools to receive incentives and reward rates, and to get boosted rewards for lockers’ liquidity positions.
Locking 1 EPX for one week equals 1 vote weight or vote locked EPX (“vlEPX”; these are not tokens, they represent a quantity of vote weight). If you lock 1 EPX for 52 weeks you get 52 vlEPX.
your vlEPX
-——--------- * fees = your rewards
total vlEPX
(You earn platform fees based on your share of total EPX lock weight)
*The more weeks, the more vlEPX you get
*The more vlEPX you get, the higher the ratio you get
*The higher the ratio, the higher the rewards you get
* Fees go to lockers...EPX goes to liquidity providers
Additionally, as lock's vote weight decreases every week, you could keep extending lock to keep maximum voting power (vlEPX), not letting locks to get expired
"Expired locks cannot be relocked, it must be streamed out first and then locked again"
In simple words, if you let a lock to get expired you would have to wait 1 week before you can relock again