veGRV

What is veGRV?

GRV, a governance token, is referred to as veGRV, an ecosystem component that stands for the locked-up (voted-escrow) form of GRV. The lock-up time ranges from 4 weeks (1 month) to 104 weeks (2 years). The $GRV lockup is defined by an increase in the user's veGRV amount proportionate to the staking duration, and it may be chosen for up to 2 years.

Even if you lock up the same amount of GRV, a longer lock-up duration will allow you to earn more veGRV. During the lock-up period, users must keep their veGRV tokens; they cannot be traded or transferred. In the event that a claim is filed after the lock-up time has passed, veGRV will be converted to GRV.

veGRV Use Cases

• VP

• EcoScore

• DAO (governance)

• Pool gauge vote

linear decrease

The quantity of veGRV is calculated when the lock-up period is specified, although it decreases linearly over time.

During the lock-up period, the quantity of veGRV is weighted and rises proportionately from 0.96% to 100%.

Ex)

1 $GRV → 1 month (4 weeks = 28 days) lockup → 0.0384 $veGRV

1 $GRV → 2-year lock-up → 1 $veGRV

$${\rm veGRV} = {\rm Locked GRV}\times\frac{\rm my~Lock~up~Period}{\rm 2years}$$