The CVE token can be converted to veCVE, which follows a modified voting escrow model. This means that CVE can be locked up to gain access to DAO voting power and other benefits.
However, the locking mechanism varies from conventional methods, allowing for only a single duration of one year. Token voting power decreases linearly as the lock matures, like many other systems. We have also solved the issue of needing to constantly relock for maximum voting power with the "Continuous Lock" function. This function allows a user to keep their veCVE position at a full-duration lock that can be enabled or disabled at any time and even provides a modest boost to voting power.
By locking CVE as veCVE, a user will earn platform fees, voting power for gauge emissions, and potentially even bribes.
Note: While on "Continuous Lock," a veCVE position will stay continuously at a full 12-month lock. This can be disabled anytime, allowing the lock timer and voting power to decrease linearly. It can also be re-enabled at any time, which will boost the lock duration back to full length and re-enable the boost to voting power. A user can do this an unlimited number of times.
A user can also opt into combining and condensing their locks; this re-extends the locks back to full length and has the benefit of cleaning up a user's UI/UX interface.
Rewards will be distributed proportionally to holders of veCVE. For example, if there are 100 CVE in existence and 10 of them have been locked into veCVE. If you own 1 of those locked tokens, you will earn 10% of all fees generated on the platform.