[Request for Feedback] To whitelist veToken Finance on Dill contract

Objective

veToken Finance aims to help users vote-lock in various projects, boosts yield and farming rewards and participates in DAO governance.

How does veToken Finance works?

VETOKEN enables users to stake their PICKLE (through staking tokenized Dill), and in turn receive protocol fees and shares of boosted PICKLE received by liquidity providers.

Users are also able to trade tokenized Dill (we call tokenized veAsset in generial) at Secondary markets. Accordingly, this staking mechanism provides better capital efficiency, and better balance between liquidity providers and stakers.

In the meantime, VETOKEN’s long term holders are permitted to vote for protocol parameters, such as gauge weights (a la Curve) and Farm Weights (a la Pickle), as well as any other governance voting.

For example:


Upcoming Governance, Potential Airdrop and Audit

Voting Escrow as a Service is a concept that veToken has developed to provide the services allowing projects to adopt voting escrow tokenomics. It includes VeAsset, gauges, and voting (upcoming).

There’s also a potential airdrop for current Dill holders at launch.

veToken will need to be tested once whitelisted, before sending them for audit.

Summary

To whitelist veToken Finance on Dill contract.

Source

a) veToken Finance

  • Yay - Go for it
  • Nay - Don’t dilute us, plz

0 voters

Some of the queries and concerns raised in the Discord:
a) Who are the actual team behind veToken?
b) What are the fees charged?
c) Can we get a confirmation if there’s an actual airdrop?
d) Can you share the github link or contracts?

Thanks for the feedback. , and as discussed in discord, here are the key specs :

Since discord chat can be hard to find stuff on, I think it’s better if I copypasta your reply here.

The first 4 question by anon is answered below:

  1. The team has rich experience on blockchain and smart contract development, and some of the devs participated on few projects such as musicoin, https://twitter.com/musicoins , and another ongoing project called bigwave https://www.bigwave.app/ ( under development - long term )

  2. We still need to finalize the details on the protocol profits sharing mechanism , there is not deposit and withdraw fees. the link below are the tentative proposals veToken Porfits - veToken Finance , any feedbacks are greatly appreciated

  3. yes, there will be an airdrop for Dill holders and white list voters , amount need to be finalized

  4. we will share the full contracts after get audited to avoid confusions , but the contract need to be white listed : PickleVoterProxy | 0x05A7Ebd3b20A2b0742FdFDe8BA79F6D22Ea9C351
    Discord

@leekuanjew 's questions

I’ve got a few more:
e. can you ELI5 the USP of veToken?

f. Are you planning to build something like Convex where small holders benefit from socialised boosts for farming? Any other hints on your roadmap / vision.

g. Could you elaborate a bit more on your own token (what you’ll be airdropping) … what is its use case and tokenomics – is it also a veAsset?
Discord

and the reply to it

Yes, the idea is to work with boarder projects who have adopted/ will adopt voting escrow tokenomics enables users to stake the tokenized veAssets, and in turn receive protocol fees with out long term locking from user perspective. From projects perspective, this will increase the long term token lock through vetoken platform.
regarding our token, it will be a veAsset for voting, it is called VETOKEN. The tentative major benefits of the VETOKEN holder to allow them to vote to make decision on which veAsset projects we would like to support, and allocate the funding to the projects who would like to adopt veAsset tokenomics. ( 50% of protocol profits will market buy voting escow project token and convert to veAsset)
Discord

@Wunderbernd

you don´t take a cut of the 45% dill revenue? Fees come from the farms and the platform fees?
Discord

@jaqen

no, i don’t take dill revenue, only take profits mainly from LP farms.
Discord

3 Likes

Pls check out the latest blog from veToken as well.

In a few hours. I will be posting this for a snapshot vote, lasting for 48 hours.

https://medium.com/@vetokenfinance/vetoken-finance-unleashes-yield-boosting-power-for-defi-users-83cd4ddfdfcc