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Voting and Boosts
The CNC locker contracts allows users to lock CNC for vlCNC. Additionally, it employs a series of boosts that get applied to the vlCNC balance.
This is an overview of how voting takes place in the Conic DAO.
CNC can be locked for a period of four to eight months. In exchange for locking a user will receive "vote-locked" CNC. This is a non-transferrable token (e.g. veCRV, vlCVX). After the lock period has expired, the user can withdraw the underlying CNC or relock it.
Yes. Similar to how holders can lock CVX across multiple locks on Convex for vlCVX, Conic also allows for multiple locks. These locks may vary in terms of CNC amount locked, lock duration and boost.
The CNC Locker employs several boosts by which vlCNC holders can increase their total vlCNC balance. All boosts are multiplicative.
This is a boost that is proportionally linear to the duration of the lock. This boost remains constant throughout the duration of a single lock. The duration of a lock ranges from 4 months up until 8 months.
Conic LPs that have staked their Omnipool LP tokens will receive an additional boost on their vlCNC balance. This boost varies over time as it depends on a user's share of the total TVL that is held within Conic. For a detailed overview of the LP Boost, please refer to the Conic whitepaper.
The LP boost only increases the vlCNC balance that is used for voting, not for earning potential platform fees.
If no CNC is locked, a user cannot obtain a vlCNC balance, regardless of the LP boost factor.
There will be two boosts that get airdropped when the protocol gets launched. The airdropped boosts will be "one-time boosts" that can be applied to a single lock and must be claimed/applied to a lock within the first 6 months. The duration of the lock may be anything between 4 and 8 months.
The recipients of the boost airdrop will be:
- v1 Locker vlCNC holders
- veCRV holders
- v1 Locker Boost: 1.0 → 2.0
- veCRV Airdrop Boost: 1.2 → 1.5
- Lock Time Boost: 1.0 → 1.5
- Conic LP Boost: 1.0 → 10.0