veWAIFUS
Vote-escrowed WAIFUS
What is veWAIFUS?
veWAIFUS stands for vote-escrowed WAIFUS. It represents WAIFUS tokens that have been locked for a fixed period in exchange for governance voting power within the Yu DAO.
Users may lock WAIFUS for a minimum of 1 week and a maximum of 4 years. In return, they receive veWAIFUS proportional to both the amount locked and the chosen lock duration. veWAIFUS is non-transferable and decays linearly as the unlock date approaches.
The longer the lock, the greater the initial veWAIFUS balance:
1 WAIFUS locked for 4 years = 1 veWAIFUS1 WAIFUS locked for 3 years = 0.75 veWAIFUS1 WAIFUS locked for 2 years = 0.5 veWAIFUS1 WAIFUS locked for 1 year = 0.25 veWAIFUS
As time passes, veWAIFUS decreases until it reaches zero at expiry.
Governance
Locking was introduced to align incentives in governance. In many token voting systems, participants can acquire tokens shortly before a vote, influence the outcome, and exit immediately afterward with minimal exposure.
The vote-escrow model mitigates this behavior. Voting power requires a time commitment. Influence increases with longer lock durations, aligning governance authority with sustained participation rather than short-term positioning.
For instructions on how to lock, refer to: WAIFUS Locker
Displayed veWAIFUS balances do not equal the underlying WAIFUS amount. Because veWAIFUS reflects remaining lock time, 1 veWAIFUS does not correspond to 1 WAIFUS except at maximum duration. veWAIFUS represents time-weighted voting power, not token quantity.
veWAIFUS Utility
veWAIFUS →
Boosted Mining Emission Rewards
Users who stake LP tokens in a mining rig with an active reward gauge may receive boosted mining emissions if they hold veWAIFUS. The boost mechanism increases rewards relative to participation and lock commitment.
Governance Participation
veWAIFUS determines voting power in the Yu DAO. Holders may vote on onchain proposals and participate in gauge weight votes.
Gauge weight voting allows veWAIFUS holders to determine how boosted mining emissions are distributed across eligible mining rigs. Mining rigs must be added to the GaugeController through a passed DAO proposal to receive boosted emissions.
Updated gauge weights are applied weekly at [REDACTED] UTC.
Locking Mechanics
When WAIFUS is locked, veWAIFUS is issued based on amount and duration. Locking is irreversible until expiration, and veWAIFUS cannot be transferred.
WAIFUS may only be withdrawn once the lock period has ended and veWAIFUS has decayed to zero.
Users may maintain only one active lock. However:
A lock can be extended, increasing remaining duration and veWAIFUS balance.
Additional WAIFUS can be added to the existing lock without changing its expiry date.
Approval Warning
If WAIFUS has been approved to the VotingEscrow contract and an active lock exists, the deposit_for function can deposit unlocked WAIFUS into the existing lock. This does not allow extension of the lock duration or withdrawal by third parties, but it may reduce liquid balances.
To prevent unintended deposits, revoke WAIFUS allowance to the VotingEscrow contract after locking and approve only the required amount when adding more WAIFUS.
WAIFUS to veWAIFUS Formula
veWAIFUS issuance is determined by lock duration within the 1 week to 4 year range.
The maximum lock duration is 4 years. Locks cannot exceed this period to maintain the 1 WAIFUS to 1 veWAIFUS ratio at full duration. Users may extend their lock to maintain higher voting weight over time.
veWAIFUS decays continuously as lockTimeLeft decreases.
Extending Locks
Extending a lock increases the remaining lock time.
Example:
If 100 WAIFUS are locked for 4 years, after 3 years only 25 veWAIFUS remain. If the lock is extended back to 4 years at that point, the veWAIFUS balance returns to 100.
Adding WAIFUS to an Existing Lock
Adding WAIFUS increases the total locked amount while keeping the same expiry date.
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