Locking and veABRA

ABRA and veABRA: Manage Your Earnings on the Blockchain

veABRA is the second utility multichain token of the Cadabra platform. It is an implementation of the vote escrow token (veToken) concept and serves two main purposes:

Governance: It allows holders to vote on the distribution of ABRA emissions across strategies and to influence the development of the Cadabra platform through the DAO governance.

Rewards: It is used to earn rewards on the Cadabra platform:

: Rewards collected from underlying yield sources. UPR is distributed among veABRA holders who vote.
: A continuous share of ABRA emissions distributed as rewards to veABRA holders.

Locking

To obtain veABRA tokens, users must lock (staking) their ABRA tokens for a specified period.

Tokens locked simultaneously are combined into a lockup.
Each user can have multiple lockups created for each locking action.

Locking is the operation of staking (freezing) ABRA tokens in a smart contract for a certain period, during which the user receives veABRA tokens. The ABRA tokens still belong to the user, and after the lockup period ends, ABRA can be managed without restrictions.

Additional operations related to locking include:

Unlock: Reverse the locking process, allowing users to regain unrestricted access to their originally locked ABRA tokens. Available only after the lock period ends.
Extend: Lockups can be extended. Lockups have an expiration date, and voting cannot occur with lockups that have expired or will expire in the next epoch.
Merge and Split: Lockups can be merged into larger one or split into smaller fractions.

Multichain

Locking of ABRA can be performed on any supported network, and the resulting veABRA will be in the same network.
Unlocking of veABRA can also be done on any supported network, with the unlocked ABRA available in the network where the unlocking took place.
Lock-ups and, consequently, veABRA, can be transferred between supported networks. If the remaining lock-up period is less than 30 days, the minimum possible period of 30 days will be set during the transfer.
If a lock-up used in voting is transferred during the current epoch, the associated vote in the original network is reset.

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Last updated 6 months ago

Locking

To obtain veABRA tokens, users must lock (staking) their ABRA tokens for a specified period.

Tokens locked simultaneously are combined into a lockup.

Each user can have multiple lockups created for each locking action.

Additional operations related to locking include:

Unlock: Reverse the locking process, allowing users to regain unrestricted access to their originally locked ABRA tokens. Available only after the lock period ends.

Extend: Lockups can be extended. Lockups have an expiration date, and voting cannot occur with lockups that have expired or will expire in the next epoch.

Merge and Split: Lockups can be merged into larger one or split into smaller fractions.

Multichain

Locking of ABRA can be performed on any supported network, and the resulting veABRA will be in the same network.

Unlocking of veABRA can also be done on any supported network, with the unlocked ABRA available in the network where the unlocking took place.

Lock-ups and, consequently, veABRA, can be transferred between supported networks. If the remaining lock-up period is less than 30 days, the minimum possible period of 30 days will be set during the transfer.

If a lock-up used in voting is transferred during the current epoch, the associated vote in the original network is reset.