🟠$vFFC
$vFFC stands as the ERC-721 governance token within the FFC Coin ecosystem, taking the form of a non-fungible token (NFT). This unique tokenization empowers users with voting capabilities and serves as the vote-escrowed iteration of $FFC. By locking their $FFC tokens for up to 2 years, users can acquire $vFFC, with longer lock durations translating to higher vFFC voting power.
Utility of $vFFC
Protocol Revenue Access: Holders of $vFFC wield the power to vote for gauges on a weekly basis, granting them access to 100% of the trading fees and bribes associated with the chosen pool.
Governance Participation: $vFFC holders actively participate in governance, casting votes for protocol improvement proposals.
Benefits for $vFFC Voters
Trading fees generated by the pools they vote for.
Bribes deposited for the pools they vote for.
Weekly vFFC distribution (rebase).
vFFC Specifications:
v(3,3) Mechanics: The Olympus DAO anti-dilution method, combined with Curve's vote-escrowed model, forms the Solidly-initiated v(3,3) Mechanics concept. The anti-dilution level is capped at 52%, decreasing by 1% per week over 52 weeks.
Gauge: A pool with dynamic $FFC rewards based on vFFC weekly voting allocation. No negative voting.
Bribes: Custom amounts of tokens paid by third parties on a gauge to vFFC holders in exchange for their votes.
Max Lock: 2 years.
Voting Requirements and Restrictions
Only FFC locked as $vFFC can be utilized for voting.
A single vote per epoch, with the epoch ending at a specified time.
Select vFFC NFTs individually for voting purposes.
Prohibitively changes to votes once cast for the current epoch.
Rewards of Voting
Influence the allocation of LYNX token incentives.
Eligibility for a pro-rata share of trading fees and bribes generated by the voted pool.
Voting with $vFFC enables active engagement in the governance of the FFC Coin ecosystem, shaping its development and reaping rewards in return.
Casting your vote weekly is crucial to qualify for rewards. Remember, voting transactions do incur gas fees. If you skip voting in any week, while rewards will still go to the gauge, you'll miss out on your proportional share of those reward.
$FFC Voting APR
Displayed prominently on our website/UI, the Voting Annual Percentage Rate (APR) serves as a crucial metric showcasing the engagement level within our ecosystem. Calculated using the formula below, it provides valuable insights into the dynamics of governance participation:
Voting APR = (TVB / TV) * Weeks / $FFC Price * 100%
Where
Weeks ≈ 52.179 (approximate number of weeks in one year)
TVB = Total Value of Bribes in USD
TV = Total Number of Votes
$FFC Price = Current price of $FFC token
The Voting APR reflects the combined impact of the total value of bribes, the duration in weeks, and the prevailing price of the $FFC token. It serves as a comprehensive indicator of the community's active involvement in governance decisions within the FFC Coin ecosystem.
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