veNUT is Now Live on Mainnet
The day has come, and Nucleon couldn’t be happier to announce that veNUT is now live on Conflux eSpace’s Mainnet. What does this mean going forward? We will break it down and discuss what this means for Nucleon’s governance and you the user. If you just want to jump in and start locking your NUT, click here to jump straight to the site. First, time to explain what is veNUT. Then, jump into governance voting and a new social media website!
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 vote for 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 year = 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. 👇
Voting on Proposals and a New Social Site
As mentioned, veNUT = Voting power. Nucleon will be introducing new proposals to help guide Nucleon as it develops. For example, the first proposal will be about Nucleon’s constitution. A set of core tenets that Nucleon believes should inspire how Nucleon develops and acts.
Before a proposal comes to a vote, there will be a discussion period. This discussion will take place on our new Reddit site. Click the link to jump there now. 👇
Users will be able to comment on proposals and provide feedback or offer alternatives. After some time has passed, ideally a week, the discussion will close. The proposal will then go to a vote on Nucleon’s NUT page on the website.
Moving forward, we will also take suggestions from the community and make them into proposals!
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!
Link to our social channels 👇
