Understanding $veFROYO — Eight simple facts

Everything you need to know to start using our vote-locking protocol

5 min readJun 17, 2022

After numerous testing, checks, optimisations and a thorough audit by the meticulous folks at Beosin, $veFROYO is here and ready for you to earn some great rewards. However, some of you may be new to this fancy terminology and the interface can seem intimidating for those who just got their feet wet in cryptospace. Here’s a quick guide on how $veFROYO works and what you need to know.

$veFROYO can provide yield rewards up to 400% APR and the interface can be accessed on our website at https://froyo.games/vefroyo. You can choose from terms of 3 months, 6 months, 1 year and 2 years. The longer you choose to lock for, the more rewards you will be eligible to earn. To find out more about what rewards we have for you and where they come from, check out our previous article on $veFROYO here.

Before you vote-lock your $FROYO, bear in mind that you cannot withdraw your locked $FROYO until the end of the lock term.

To those who are new to ve-mechanism vote-locking, here are eight things you need to know about $veFROYO:

1. The longer you lock, the more rewards you get

Upon locking your $FROYO you will receive $veFROYO tokens depending on how long you choose to vote-lock your tokens.

The calculations are as follows:

3 months — ×0.125
6 months — ×0.25
12 months — ×0.5
24 months — x1.0

For example, if you lock 1,000 $FROYO tokens for three months, you will receive 125 $veFROYO (1,000×0.125).

The reason we do this is so that we can calculate the rewards you are eligible for. The more $veFROYO you hold, the more rewards you receive and thus, the longer your vote-lock term, the more $veFROYO you will receive.

2. You will always get back the same amount of $FROYO you lock up

The $FROYO you place in a $veFROYO vote-lock will always be returned to you when you redeem your $veFROYO after the end of your lock term. You may see a $veFROYO balance in your wallet while your tokens are locked that appears less than the amount of $FROYO you elected to vote-lock. This is not representative of the amount of $FROYO you have locked and is only used to determine the proportion of the rewards you will accrue.

To see how the amount of $veFROYO tokens you receive during your vote-lock is calculated, refer to the point above.

3. Vote-Locking requires two transactions

If you are new to staking and locking protocols like $veFROYO, you may be confused as to why Metamask asks you to send more than one transaction — this is part of a security feature we have in place to protect your funds in the unlikely event of a security breach or exploit in the $veFROYO contract.

The first transaction you submit is to authorise us to access your $FROYO so that we can proceed with the vote-lock. The second transaction initiates the vote-lock.

The rationale behind this is that we only request authorisation to use exactly how much $FROYO you intend to vote-lock at the time of your transaction, in contrast to requesting permission to use all the $FROYO in your wallet which could put your funds at risk in the event of a hack. Therefore every time you start a new vote-lock, you will have to submit two transactions.

4. $veFROYO is not transferable

While $veFROYO is a BEP20 token that can be added to your wallet, the tokens are not transferable. This is not a glitch — this is how the contract is programmed. Only the holder of the $veFROYO tokens can redeem their locked $FROYO when the lock term ends.

$veFROYO has no tradable value and anyone offering to “buy” your $veFROYO may be trying to scam or mislead you.

Attempting to transfer your $veFROYO will result in a reverted transaction which will still incur gas fees.

5. Rewards must be manually harvested

The rewards that are accrued from your vote-locking have to be harvested manually before they show up in your wallet. A transaction is required to trigger the harvest and will incur gas fees.

$veFROYO is not an auto-compounding protocol. This means that if you wish to earn more rewards on the $FROYO rewards that you harvest, you will need to start another $veFROYO vote-lock.

6. Some rewards may be redeemable for a limited time only

While most rewards for $veFROYO come in the form of $FROYO, NFTs and other blockchain tokens such as tokens from our upcoming games, being a $veFROYO holder also has some other perks such as early access to new games that come to our platform. These rewards may be time-sensitive or claimable for a limited time so be sure to check back frequently to get the best of your $veFROYO rewards.

7. You must manually unlock your tokens

After the term of your vote-lock is over, your $veFROYO will continue to accrue rewards. You can keep your $FROYO tokens locked indefinitely to continue to accrue rewards. Your $veFROYO will not automatically unlock after the term ends. You must unlock manually to receive your locked $FROYO tokens.

Unlocking your $FROYO tokens will also trigger a reward harvest in the same transaction, saving you gas fees.

However, your $veFROYO balance is solely dependent on the period you elected to lock for at the start of your vote-lock, meaning if you do keep your $FROYO locked for two years but only initially locked them for three months, your reward rate will be lower than if you initially chose to lock for 24 months.

8. $veFROYO vote-locking is only available on the BNB Chain

While $FROYO tokens are on both the BNB Chain and the Ethereum Mainnet, the $veFROYO vote-locking protocol is only available on the BNB Chain. You can bridge your $FROYO from Ethereum to the BNB Chain on our Multichain Bridge which you can read about here.

Lock your $FROYO and you could win an NFT!

To sweeten the deal 50 users who vote-lock at least 50,000 $FROYO for any term before 1200 UTC on 25th June 2022 will be selected to receive an airdrop of a playable NFT for the Claw Stars mobile game! If you are an avid Claw Stars player, this NFT will grant you a lifetime membership to the Star Club (Normally 59.88 USD per year), meaning you get increased claw capacity, access to member-exclusive Style Station spacesuits, special in-game avatar frame and the ability to customise your foolstone messages. You’ll also get to equip and show off your Claw Stars NFT in the new Squadron feature!