The token emission happens in $VLVT, which is used to:
- Incentivize user growth via additional rewards to investors in the funds & structured products built on top of Velvet protocol and via a referral program
- Encourage decentralized governance - can be used to take part in the governance for continuous development of the platform. The long term goal is to achieve true decentralization.
veVLVT is the vote-escrowed version of VLVT. Users can lock their VLVT tokens for up to 5 years to get veVLVT. The longer the lock, the higher the amount of veVLVT voting power received.
To encourage continuous locking and sustained participation from stakeholders, the veVLVT balance declines over time until it reaches zero at the conclusion of the initial locking period. It can be increased by restarting the locking period.
veVLVT can be used for voting on general Velvet DAO decisions (e.g., new integrations) as well as $VLVT emission allocation across funds & structured products. Upon voting, the veVLVT holder will receive a share of the protocol fees from that fund and earn additional staking rewards partially protecting from dilution.
An exclusive NFT confirming your OG status, the NFT can only be granted directly by the Core Team and is the highest recognition for early contributors.
The Velvet Founders Club NFT allows to:
- Double your airdrop amount at the airdrop time
- Double your veVLVT voting power (when you stake it together with $VLVT)
- Earn royalty fees on all secondary sales
- Get exclusive Velvet Founders swag
- Access closed in-person events
- Join Founders-only Telegram group that will be a genesis for the Velvet DAO
- Access exclusive strategies by top partner Hedge Funds
The NFTs can only be minted before the $VLVT token airdrop. Some of the ways to earn them include:
- Depositing more than 10 BNB into portfolios on Velvet.Capital v1
- Creating a new fund on Velvet.Capital v2 and reaching TVL of more than 100 BNB
- Referring 3 users that fall into the above categories
- Reporting major bugs and providing suggestions for resolution
- Providing feedback as a part of user testing sessions (given relevant previous experience)
- Driving marketing campaigns for the Velvet DAO (given strong personal following)