🔓Governance Locking

In order to gain governance rights, user must lock their VXD tokens for 12 epochs (12 weeks) and receive veVXD with a ratio of 1:1.

If users choose to lock their VXD tokens just prior to the beginning of a new epoch, they will remain locked for approximately 12 weeks.

Alternatively, if users lock their tokens during an existing epoch, the lockup period will be 12 weeks plus the duration between their lock and the start of the subsequent epoch. More VXD can be locked during the pending time without extending the lock period.

During the 12 weeks, users may wish to extend their lock. If the remaining lock-in time is less than 12 weeks, the user's locking period will be extended by an additional 12 weeks. For example:

• Alice has locked her VXD for 2 weeks and decides to extend her lock-in period. Then, her remaining lock-in time will be 10 + 12 = 22 weeks.

• Scenario 1: After the first extension, Alice attempts to extend her lock-in period during the 8th week; however, since the remaining lock-in time exceeds 12 weeks (22 - 8 = 14 weeks), she is unable to do so.

• Scenario 2: After the first extension, Alice attempts to extend her lock-in period during the 15th week; since the remaining lock-in time does not exceed 12 weeks (22 - 15 = 7 weeks), her lock-in period is extended again with another 12 weeks.

Users can increase their lock-in position by adding more VXD tokens, but this will impact their lock-in period in the same way as extending their lock-in time.

By locking up VXD, users are granted with governance rights to vote on VortX DAO’s development proposals and indirect access to voting power on other platforms that VortX DAO has obtained. They are also rewarded with extra incentives:

• Bribes from vote delegation

• Bonus lqASH

The amount of lqASH reward that a user receives depends on the total amount of VXD tokens locked in the contract at different times. This is because the reward is calculated based on the percentage of VXD tokens a user has locked in the contract relative to the total amount of VXD tokens locked in the contract at that time. However, it is noteworthy that the amount of veVXD would remain constant throughout the locking period, without any decay or reduction, unless the locker decides to unlock their VXD early and incurs a penalty (see Penalty). Therefore, if a user locks 1000 VXD tokens and keeps them locked until the end of the locking period, they will receive the full incentive amount that corresponds to 1000 veVXD throughout the 12 weeks.