vePREON

Lock your vePREON for voting power

vePREON Utility

• Protocol revenue access: vePREON holders can vote for gauges on a weekly basis, and access to protocol fees and 100% of the bribes for the associated pool

• Governance participation: vePREON holders can partake in governance and cast votes for the protocol improvement proposals.

vePREON voters receive:

• Bribes deposited for the pools they vote for

• Protocol fees from deposit fees, borrow fees & redemptions

vePREON Specifications

• ve(3,3) Mechanics: partially liquid governance, making Preon both a decentralized dApp, as well as a liquidity layer for many protocols

• Gauge: A pool with dynamic oPREON rewards based on vePREON weekly voting allocation. No negative voting.

• Bribes: Custom amount of tokens paid by a third party on a gauge to vePREON holders in exchange for their votes.

• Max Lock: 1 year.

• Binary Gauges: This feature is included within the protocol with up to a 2.5x boost on non-boosted gauges. Pools that are binary boosted do not require a veNFT boost.

• Flexibility: vePREON positions can be merged, split, and sold on the secondary market.

Voting

For voting, you need to be aware of epochs. Each epoch lasts for 7 days, after which the bribes are distributed. You earn only from the gauges (pools) you have voted for.

• Bribes are claimable as a lump sum after the next Epoch has ended (n+2)

• You have to vote weekly in order to be eligible for the fees and bribes

• You can change or reset your vote at any time

• Vote weights reset each Epoch. You need to vote every Epoch in order to earn the bribes

Revenue sharing

Locking 80-PREON/20-ETH BPT for governance also gives users access to yield from the protocol. Lockups are incentivized by:

• Mint fees

• Redemption fees

• Liquidation fees

• Deposit fees

• Auto-compounding fees

• $oPREON redemption

• Gauge fees

• Bribes

The yield is distributed in $ETH, $STAR & other tokens in case of bribes.