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xOOE represents your locked OOE for governance. In order to vote, you must lock your OOE. Locked tokens will be inaccessible until the locking period has passed.
The purpose of xOOE is to encourage users to make long-term decisions and take the opportunity to join in OOE DAO. In addition to DAO benefits, xOOE holders will also earn gas rebates based on staked OOE. The longer you choose to lock your OOE, the more voting power you will have and the more rewards you can unlock.
- The more OOE you have locked into xOOE, the more xOOE you can earn overtime.
- Stake OOE for xOOE to receive future protocol profit sharing.
- The more xOOE you have, the higher gas refund rate you will can reach.
- The more xOOE you have the more voting power, you will receive for future Governance.
The longer you lock your OOE, the more voting power you have and higher rewards earned. You can vote-lock 1,000 OOE for 6 months to have 1,100.095 xOOE weight.
APY = ((1.045^month)/9) - 0.05
Final xOOE = [(APY + 1) ^ (month/12)]*staked OOE amount
*Note: 1 month = 30 days
Stake 10,000 OOE to lock for 3 months with APY 7.68%, you will get (10,000 + 186.69685) OOE.
Early redeem penalty: 80% of accumulated rewards.
xOOE = locked OOE amount + total xOOE rewards * locked time / total locking period
The xOOE reward is releasing every second, and can be harvested at the end of locking period
Users can harvest their xOOE after the locking period, the xOOE will be converted to Available OOE at 1:1 ratio in our platform. As the OOE hasn't been sent to users’ wallets yet, users don’t need to pay gas fee for re-locking their OOE. However, the Available OOE don’t have any voting power.
After the locking period, if users didn’t harvest/withdraw xOOE, xOOE will be automatically staked into a staking pool at the lowest APY (6.5%). Users can re-lock/withdraw their xOOE later anytime.
*Note: Early unlock penalty is 80% of your xOOE earnings. Meanwhile, your gas refund level will also get recalculated.