The term DAO stands for "decentralized autonomous organization". It can be described as an open blockchain protocol governed by a set of written rules, created by its elected members and can only be modified via voting.
The Vote (veVCI) is a governance token that is minted after locking VCI to the DAO pool. It can be used exclusively for Vinci Protocol Governance Voting and can’t be transferred from a wallet, nor be traded.
Locking VCI to DAO can allow you to obtain veVCI, which is one of the important processes of Vinci Protocol management. The voting rights represented by veVCI will grant the user the power to manage the protocol.
- The veVCI can share 100% of the platform's earnings, and the earnings assets are returned in ETH/WETH.
- The minimum lock period is 1 week and up to 4 years. The longer the lock-in period, the greater the voting rights and their weight, as well as the higher the Lend/Borrow mining APR (up to 2.5 times boost).