Locking $CNC

CNC can be locked for a period of four to eight months in exchange for vote-locked CNC (vlCNC). The longer people lock their CNC, the higher their vlCNC balance will be.

Why lock CNC?

  • vlCNC holders can claim cncCRVUSD LP tokens accrued from bonding.

  • vlCNC holders can take part in bi-weekly liquidity allocation votes (i.e., every two weeks), whereby the weights that determine how much liquidity of an asset a particular Curve pool receives are updated for each Omnipool.

  • vlCNC holders can vote on whitelisting and blacklisting Curve pools that can be used to receive liquidity in an Omnipool.

  • vlCNC holders vote on which assets get added to the platform.

  • vlCNC holders can propose protocol changes by submitting CIPs

  • vlCNC holders vote on which Omnipools receive rebalancing rewards

What are boosts?

When CNC gets locked, a series of boosts may get applied to the locked CNC amount to increase the received vlCNC balance. For a detailed overview of how the boosts work, please refer to the boosts section and the whitepaper.

Unlocking CNC

As soon as vlCNC reaches its unlock date users may withdraw their original CNC balance from the locker. Users should be aware that the locker contains a kick function. Whereby, 4 weeks after a lock has expired a function can be called to kick the expired lock out of the locker. When the kick function is called the user being kicked pays a penalty fee. The penalty fee is 10% of the locked amount (or a maximum of 1,000 CNC) and is collected by the user that called the kick function.

Migrating locks

In order to participate in governance and fee share lockers must be using the latest version of the locker (launched on Jan. 31, 2024). To migrate to the new locker simply withdraw all of your current locks and then create a new lock on the Conic UI.

Claiming Rewards

vlCNC holders can claim rewards accrued from bonding on a daily basis. Each epoch (7 days) there is a limited amount of cncCRVUSD LP tokens that can be bonded. When an epoch concludes, the cncCRVUSD LP tokens accrued from that bonding epoch get streamed as rewards over the next 7 days to vlCNC holders. For example, if a bonding epoch ends and there was 70,000 LP tokens bonded, 10,000 LP tokens would be streamed as rewards to vlCNC holders per day for the next 7 days.

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