📖Governance

Snapshot: https://snapshot.org/#/veneraswap.eth

Farms governance

iVSW

Holding iVSW now allows you to vote on pool allocations, thereby changing the APY of particular farms. "Boosted Farms" are the name given to these special farms. Holders of iVSW have the opportunity to vote on the incentives to these upgraded farms every week. Hence governance in choosing the emission of the pool.

Boosters allow users who hold iVSW to earn higher yield. By holding iVSW it allows users to increase the reward they recieve by up to 2.5x (250%). For example you farm on a pool that gives out 100% APR. If you maximized your boost factor then it will increase to 250% APR.

In other words, iVSW is an important advance forward enabling VeneraSwap to become a true DAO, allowing users to make some project choices. VeneraSwap long term aim is to become a DAO and by implementing iVSW it will give users the chance to decide what will happen to the project. By holding iVSW it allows you to have a vote on pool allocations every week which changes the APY directly. We will call those enhanced farms. So what are enhanced farms compared to “farms”? They are similar to regular farms, however the emission rate can be decided by voting using the iVSW. Enhanced farms will have a 1% deposit fee (0.8% goes to holders and 0.2% goes to development funds). The 0.8% fee is used to buy back VSW and distribute them back to iVSW holders on weekly basis.

How to obtain iVSW?

Simply to obtain iVSW, you will need to lock VSW tokens for a period of time starting with a week up to four years. The longer your lock, the more iVSW you will get, with four years being the maximum that gives a 1:1 ratio for VSW:iVSW. Afterwards you will be eligible to claim weekly rewards for locking your VSW.

Snapshot

Moving towards true decentralization we will be using Snapshot which is a signalling tool that allows governance participants to signal for free. In other words users will be able to draft a proposal and vote for it using their tokens. https://snapshot.org/#/veneraswap.eth