veGMBee

veGMBee (veGMB)

When you lock your GMB tokens in The Vault, you receive veGMB tokens in return. These veGMB tokens represent your locked GMB and come with several benefits. Here's a simple explanation of veGMB.

What is veGMB?

veGMB stands for "vote-escrowed GMB". It is a special token you get when you lock your GMB tokens in The Vault. Think of it as a receipt that proves you have locked your GMB tokens and is used to measure your participation and influence in the ecosystem. veGMBee (veGMB) is a non-transferable token which represents your share of the locked tokens.

Benefits of veGMB

• Voting Power: veGMB gives you voting power in project decisions. The more veGMB you have, the more influence you get.

• Rewards: veGMB allows you to earn rewards based on the number of tokens you've locked and for how long.

• Exclusive Perks: Having veGMB will grant you access to special features or events within the project.

How to Get veGMB

Here's how you can get veGMB in a few simple steps:

1. Lock Your GMB Tokens:

   • Decide how many GMB tokens you want to lock.

   • Choose the duration (in days) for which you want to lock them.

   • Confirm the lock, and you will receive veGMB tokens in return.

2. Use Your veGMB:

   • Participate in project votes and help shape the future of the ecosystem.

   • Earn rewards based on your locked GMB and the time period.

   • Enjoy any exclusive perks that come with holding veGMB.

3. Unlocking Tokens:

   • After the locking period ends, users can unlock their GMB tokens.

   • The corresponding veGMB tokens may be burned or retained for a period as part of the unlocking process.

*You can check the amount of locked GMB using GMB Stats Dashboard