diff --git a/docs/contributing/governance/veyfi.md b/docs/contributing/governance/veyfi.md index e6dcdbeaa1..8fece34d6a 100644 --- a/docs/contributing/governance/veyfi.md +++ b/docs/contributing/governance/veyfi.md @@ -14,7 +14,9 @@ Governance Forum Thread: https://gov.yearn.fi/t/yip-65-evolving-yfi-tokenomics - Locking is similar to the ve-style program of Curve. - YFI can be locked into veYFI, which is non-transferable. - Lock duration can be decided on deposit: from 1 week to 4 years. -- A user must have a veYFI lock to continue to earn rewards. No lock leads to no boosted rewards. A Maximum lock, continuously renewed, maximizes rewards. + - You can actually lock up to 10 years, but anything above 4 years doesn’t give you more veYFI. This way you don't have to relock every week. If you set it to longer than 4 years, you can always reset it to 4 years so it starts decaying. +- A user must have a veYFI lock earn boosted rewards. No lock leads to no boosted rewards. A Maximum lock, continuously renewed, maximizes rewards. + - Just like with Curve, even without a veYFI lock, you can still deposit into a vault and stake the vault token into a gauge which will give you the base boost. With the minimum boost, you get to keep 10% of the dYFI you farm. The other 90% goes to veYFI lockers. - It’s possible to exit the lock early, in exchange for paying a penalty that gets allocated to the other veYFI holders. - The penalty is up to 75% locked amount and decays over time: - The total penalty is the minimum percentage between `75% locked amount` and `(time remaining / 4 years)`