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fix boosted rewards copy #364

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merged 6 commits into from
Oct 10, 2023
Merged

fix boosted rewards copy #364

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baaeebc
fix boosted rewards copy
MarcoWorms Oct 10, 2023
2fe3579
add explainer for base reward
MarcoWorms Oct 10, 2023
f413346
Update veyfi.md
MarcoWorms Oct 10, 2023
bb06e62
add locking information for 10 years lock
MarcoWorms Oct 10, 2023
ed5b8c1
add emphasis
MarcoWorms Oct 10, 2023
d4f604f
Update veyfi.md
MarcoWorms Oct 10, 2023
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4 changes: 3 additions & 1 deletion docs/contributing/governance/veyfi.md
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Expand Up @@ -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 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.
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- 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 then you get min boost, which is 1x. With 1x 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)`
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