🌠Voting NFT

Users who hold ZOLID can lock it up and acquire veZOLID, which complies with the NFT (ERC-721) standard. NFTized veZOLID can be liquidated as well. When ZOLID is locked up, users can select a lock-up period of 1 week, 1 month, 1 year, or 4 years. Assuming a user deposits 1 ZOLID, they can acquire 1.00 veZOLID, 0.75 veZOLID, 0.50 veZOLID, and 0.25 veZOLID, respectively. The veZOLID acquired by users follows a linearly decreasing structure.

The voting power of the entire protocol is determined by the following equation:

Voting power of the entire protocol = The amount of ZOLID locked in veZOLID NFT * the aggregate linear time decay of the vests.

For instance, if a user locks up 1 ZOLID for 4 years, they will get 1 voting weight. This number will decrease linearly over time. If a user locks up ZOLID for 4 years, and it has 3 years remaining, the voting weight will be calculated as ‘1*(3/4) = 0.75’.

If 1,000,000 ZOLID are locked in veZOLID NFT positions for 2 years, the total amount of all protocol voting rights will be:

1,000,000 * 2/4 = Voting weight of 500,000.