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Vote Locking
Similar to Curve's CRV & Convex's CVX, the CVE token can optionally be locked up to gain access to the DAO voting power along with other benefits.
Unlike Curve's locking mechanism, there is a single duration, one year. Each locked CVE will have 1:1 voting power per token for this entire period.

Locking Options

Either option will earn proportional shares of both platform fees and bribes, claimable on the website.

Option 1

Perform a standard lockup of 12-months, gaining direct voting power over DAO decisions and yields. Like other locked tokens, this is a non-transferable token (veCVE) to promote long-term protocol alignment.

Option 2

Create a liquid, wrapped version of the otherwise illiquid governance token. The ERC-20 token, cveCVE, will be generated in a 1:1 ratio to the amount of CVE locked up. Although this automatically delegates voting rights to the DAO, this liquid token will continue to allow for claiming of protocol fees & be used as collateral in the lending markets, transferred to other addresses, or used in AMMs for providing liquidity. Refer to Lending & Borrowing for more info.
All cveCVE will stay continuously locked, saving users unnecessary gas fees when re-locking governance tokens. At any time, the cveCVE can be unwrapped to initiate the 12-month lock countdown and receive full, direct voting rights represented by the conversion of one's position from cveCVE to veCVE.

Rewards

Rewards will be distributed proportionally to holders of either veCVE or cveCVE. For example, if there are 100 CVE in existence and 10 of them have been locked, 5 into cveCVE & 5 into veCVE. If you own 1 of those locked tokens (either as veCVE or cveCVE), you will earn 10% of the platform fees.
When cveCVE is used as collateral in the lending market, it will earn additional revenue based on the rewards & interest relevant to that market.
Liquidity Providers can earn their share of the revenue by depositing the LP tokens into the protocol.
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