💰veCamel Info

veCamel

Users can lock CAMEL token to mint veCamel token, which stands for voting escrow CAMEL.

veCamel is used to perform the following actions:

1. Voting: add a new asset to the lending pool; Warchest fund release; etc.

2. Share protocol income: 40% of the protocol income is distributed to veCamel token holders.

CAMEL can be locked for up to 4 years. The number of veCamel you receive depends on the time you lock your CAMEL for. The minimum locking time is 1 week, and for every CAMEL locked, veCamel increases linearly from 0 to 1 as you increase your locking time from 0 to 4 years.

For example:

1 CAMEL locked for 1 year = 0.25 veCamel.

1 CAMEL locked for 2 year = 0.5 veCamel.

1 CAMEL locked for 3 year = 0.75 veCamel.

1 CAMEL locked for 4 year = 1 veCamel.

Without increasing the locking time or the number of CAMEL, veCamel voting power decreases linearly as time lapses. For example:

Alice locked 1 CAMEL for 1 year and received 0.25 veCamel. She didn’t extend the locking time or locked more CAMEL afterward. After 6 months, Alice would have 0.125 veCamel.

Weekly CAMEL Rebate

Camel Finance will use part of the protocol income to buyback CAMEL token and distribute to veCamel holders. You can see the buyback bps here.

Weekly CAMEL Rebate settles every week. It rebates the purchased CAMEL token mentioned above to the enrolled users. Users enroll by registering their veCame on Camel Finance.

Details coming soon...