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Inspirations
Curve - Curve.fi is the largest DeFi protocol by TVL - it pioneered the vote-locking mechanism with its CRV DAO token and its derivative veCRV (which stands for Vote Escrow CRV) can be acquired by locking the CRV in a staking contract for 1-4 years. The longer you lock, the more veCRV you receive, which gives you more voting power in deciding where future CRV is allocated. In addition, the veCRV can be used to boost Curve pool rewards up to 2.5x.
Frax - Following Curve’s model, Frax’s FXS can be locked for 1-4 years to receive veFXS. In addition to governance voting, veFXS also makes the holder eligible for FPIS airdrops.
Illuvium - Illuvium was the first GameFi project with an innovative staking mechanism. There are two staking pools, one for single-sided governance token staking, the other for the liquidity pool on Uniswap. There are locking mechanisms in which the longer you lock, the higher weight your rewards. The locking period can be up to 1 year. They also have a synthetic version of the token named sILV, which can be used in-game, but has minimal liquidity on the market. All staking rewards have a 365-day vesting period but can be withdrawn as sILV to be used in-game.
Last modified 1yr ago