Starlay's ve (vote escrow) feature allows users to
So "ve" does not only boost liquidity mining rewards of an asset acquired the most votes but also offers a game to users.
According to market conditions, users can plan a strategy and consider how to increase the numbers of borrowers and lenders of an asset to maximize and earn rewards.
For instance, if Starlay Finance as a protocol is integrated with another protocol, there might be a chance that the number of borrowers and lenders of a specific asset increases. If you vote for that asset, you might be able to maximize your rewards.
As you may be noticed, this is the step toward Starlay Finance to be a DAO.
Let's look into it closely.
Term: A voting period. Currently, voting is held once in two weeks. Voting starts on Thursday at 00:00:00 UTC and closes two weeks later on Thursday at 00:00:00 UTC. Then a new round of voting will begin.
Revenue: The revenue of the protocol (e.g. An interest income of lending and borrowing, flashloan).
Voting Power: The number of veLAY you have calculated from the locked amount and period of LAY. LAY can be locked for a maximum of two years. As the remaining lock period gets shorter, Voting Power decreases linearly.
You can lock LAY to get veLAY.
When you lock LAY, you need to decide on the locking quantity and period.
The amount of veLAY that you can get depends on the period to lock; the longer you lock LAY, the more veLAYs you can get. The amount of veLAY decreases linearly to zero over time until the end of the locking period.
Locking Period
Maximum of two years
The actual lock period value is rounded to a unit of Terms from the period you specified.Currently, the Term is two weeks.