vMIMO and Voting Power
In order to participate in Mimo Protocol governance, token holders must lock their MIMO in the VotingEscrow contract. Users receive non-transferable vMIMO in exchange as the following:
Locked Amount | Duration | Voting Power |
|---|---|---|
1 MIMO | 4 years | 1.00 vMIMO |
1 MIMO | 3 years | 0.75 vMIMO |
1 MIMO | 2 years | 0.50 vMIMO |
1 MIMO | 1 years | 0.25 vMIMO |
Users’ voting power decays as their lock period comes closer to expiration but can be extended at any time. The voting power is calculated as follows:
The staking contract keeps track of the remaining lockup in real-time without any user intervention. According to the formula, voting power is topped up at the moment of deposit and decreases linearly afterward.
Voting power decreases linearly as time progresses, and vanishes completely at lockup expiration.
Note that locking tokens beyond the MAXTIME of 4 years will not earn additional voting power. Locking 100 tokens for four years now and locking 100 tokens for more than four years earns the same amount of voting power.
You can increase your voting power by locking MIMO here and obtain a proportional amount of vMIMO (calculated based on the amount of MIMO a user locks up and the duration they choose to lock it for).
Now that you have vMIMO, you can participate in the various governance votes that are published on Snapshot or on the MIMO voting page
Note that any user can choose to delegate all or a portion of his voting power to someone else on Mimo snapshot by clicking on "delegate".
Be sure to lock your MIMO before the snapshot vote starts, or your MIMO will not be available for voting!
Last modified 1yr ago