How do I get veETHA?
Last updated
Last updated
The way to acquire veETHA is to lock your ETHA token up for a certain period of time. Locking for a longer period grants participants more voting power in the form of veETHA for each ETHA locked. Users can lock their tokens for up to 3 years.
To start locking your ETHA, you can visit the new governance portal. ETHA holders can lock their tokens for up to 3 years to maximize their veETHA voting powers.
You can use your Web 3 wallet (MetaMask) balance directly or your ETHA Smart wallet balance to vote lock ETHA for veETHA, as shown in the image below:
Once you’ve locked a desired amount of ETHA, you can increase the amount locked to receive more veETHA. You can do this on the Governance Portal in the “Increase Amount” section, and this section will appear only when there was some ETHA locked initially.
Once you’ve locked a desired amount of ETHA, you can increase/extend the lock time on the same page under the “Increase Time” section, as shown below.
The veETHA contract allows users to redeem their stake earlier for a redemption fee. There is a 50% redemption fee for early unlocks. All collected fees will be redistributed to the remaining veETHA lockers’ pro-rata.
