Rings Protocol
  • Overview
    • Introduction
    • Veda Vaults
      • Collateral vault (Ethereum)
      • Staking vault (Sonic)
    • Rings, Sonic & Veda Points
    • Security Framework and Audits
    • Gauge Listing Framework
    • Treasury / Backing Address
  • Tutorials
    • Introduction
    • Minting
    • Staking
    • Locking
  • Developers
    • Veda BoringVaults
    • Staked scAssets & yield distribution
    • scUSD/scETH veNFT
    • Quest integration
    • Smart Contracts
    • Bug Bounties
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  1. Developers

scUSD/scETH veNFT

PreviousStaked scAssets & yield distributionNextQuest integration

Last updated 4 months ago

Rings veNFT follow the ve(3, 3) design.

VotingEscrow and Voter contracts have been forked from and slightly modified to add a voting approval logic. To acquire a veNFT, users create a lock by specifying an amount of stkscToken and a lock duration. Active veNFT have a “balance”, which is the locked amount, prorated from the maximum locking duration (52 weeks). The “balance” does not represent the amount of underlying token locked, it does only count the vote power of the veNFT.

Example : A veNFT with a locked amount of 5200 stscToken and a duration of one week will have a “balance” of 100 ((5200 / 52) * 1).

The veNFTs “balances” are used by the voter contracts when a user votes for protocol gauges. When a veNFT is used to cast a vote, it becomes frozen until the voting period is over or the veNFT is reseted.

Thena