🗳️Vote-Locked CMP
vlCMP
Vote-Locked CMP is the locked version of CMP. The governance power that Campie has acquired by locking GRAIL on Camelot DEX is shared and controlled by vlCMP holders. Users interested in participating in Camelot DEX's governance can buy voting power cost-effectively through CMP while earning high APR at the same time.
Users must lock CMP as vlCMP to:
Earn passive income
Participate in the governance of Campie and Camelot DEX
How can I get vlCMP?
Users can lock CMP on Campie to get vlCMP at 1:1 ratio.
What are the benefits of vlCMP?
Earn a revenue share from Campie.
Voting to earn bribe rewards. (WIP)
Maximized voting power on Camelot DEX's governance.
Governance rights on Campie.
How does lock / unlock work?
Once CMP is locked, it is in lock state indefinitely.
Users must "Start Unlock" to start 15 day unlock period known as "Cool Down".
Users can "Force Unlock" to unlock their vlCMP before 15 days by paying a penalty fee.
To fully unlock vlCMP without penalty, users must wait 15 days for the Cool Down period to end.
vlCMP holders continue to earn passive income but cannot participate in the voting process while their tokens are in Cool Down.
On day 1, penalty cost is 80% of the total CMP tokens locked by the user and will decrease non-linearly over time.
There are three states of vlCMP
1. Locked state: vlCMP, by default, is in a locked state and can vote on Campie's governance, receive Campie revenue share, and use the Campie Bribery Market once it is launched. Additionally, it allows its holders to participate in the governance processes of Camelot by controlling Campie's xGRAIL governance rights.
2. Cooldown (or unlocking) state: vlCMP will be in cooldown state once users start unlock. You can choose the amount of vlCMP to start unlocking schedule. vlCMP in cooldown state can ONLY receive Campie revenue share, NOT able to vote on Campie's governance NOR use Campie's bribery market.
3. Expired state: Once the "Cooldown" period ends, vlCMP will enter an expired state. Expired vlCMP CANNOT perform the following actions: voting on governance, receiving any rewards, or utilizing the bribery market on Campie. Rewards will still be allocated to expired vlCMP; however, once users attempts to claim them, these rewards will be forfeited and redistributed amongst all other vlCMP in locked state. The proportion of forfeited rewards is determined by the amount of expired vlCMP and the length of time they have remained in the expired state.
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