For the People, By the People
We are thrilled to introduce the world to veNUT. Lock your NUT in veNUT and make your voice heard in Nucleon’s community.
How can your voice be heard? Well, VeNUT grants the power to vote on proposals for the DAO. As an example, Nucleon will have to decide how to best use Nucleon’s rewards. A proposal could be made on whether to burn, distribute, or store rewards.
What is veNUT?
veNUT is the governing scheme for NUT’s DAO. Anyone who stakes NUT will receive a veNUT NFT. The NFT holders will have the power to initiate and vote for the governance proposals. The rights and power are determined by the total amount and lock duration of the locked NUT.
- 1 NUT locked for 4 years = 1.00 veNUT
- 1 NUT locked for 3 years = 0.75 veNUT
- 1 NUT locked for 2 years = 0.50 veNUT
- 1 NUT locked for 1 years = 0.25 veNUT
veNUT is the first tradable and vested NFT on Conflux Network. Much like liquid staking CFX, the veNUT can be transferred to others while locked. A tradeable NFT allows for greater decentralization and freedom of assets much like Nucleon’s purpose.
Remember that your voting power will decline each day as the remaining time length of your locked NUT declines. Locked NUT duration times can be extended prior to the original duration ending. When the lock expires, you can withdraw your NUT and claim all accumulated rewards.
Users can learn more by reading our NUT Governance section on our updated documentation page. 👇
About Nucleon
Nucleon is a liquid staking solution for Conflux PoS backed by industry-leading staking providers. Nucleon lets users stake their CFX without locking assets or maintaining infrastructure.
Our goal is to solve the problems associated with Conflux PoS staking — illiquidity, immovability, and accessibility — making staked CFX liquid and allowing for participation with any amount of CFX to improve the security of the Conflux network.
Connect with us!
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