💣VCX
Supercharge VaultCraft with VCX, the protocol governance token
Last updated
Supercharge VaultCraft with VCX, the protocol governance token
Last updated
VCX is a governance token that aligns incentives across all VaultCraft stakeholders and is designed to further optimize the following:
Protocol revenue
Smart Vault yield
VaultCraft utilization
Token liquidity
Token velocity
VCX is required to participate in protocol governance and is used for liquidity provisioning specifically to be able to vote on how rewards are distributed to Smart Vault gauges. This disincentivizes farming-and-dumping and encourages long-term liquidity provisioning by aligning the interests between LPs and VCX holders.
Vote-locked VCX is now a Balancer LP token - VaultCraft uses the Balancer 80VCX-20WETH LP token as the lock token, meaning you need to lock the 80VCX-20WETH LP token to vote on where rewards are distributed
Gauges - Staking contract on Smart Vaults that are distributed oVCX according to your vote-escrowed VCX LP position
Reward token is now a call-option for VCX - Reward tokens are now call options on VCX (oVCX), enabling the protocol to accumulate much more in cash reserves regardless of market conditions, as well as letting loyal VCX holders buy VCX at a discounted price.
Max boost enabled for Smart Vaults - VaultCraft gives a 5X max boost to LPs who have vote-escrowed VCX LP
A governance token for incentivizing liquidity
veVCX is based on Curve’s veCRV 1
Used for voting for governance proposals
Used for voting on gauge weights
oVCX is a call option token for VCX that lets its holder purchase VCX at a discount to the market price. oVCX does not expire.
