You can now lock your CXD for vlCXD in preparation for the upcoming release of fee distribution.
Holders of vlCXD will start earning stablecoins from platform fees once the fee distribution feature is released.
vlCXD will enable token utilities such as:
- DAO voting power
- Protocol boost
- Fee distributions
How to Lock CXD for vlCXD
Lock for longer to get more vlCXD for your CXD.
- Head over to the lock section of the CortexDAO app.
- Enter the amount of CXD you’d like to lock (MAX for your entire CXD balance).
- Enter the duration of the lock.
- Click ‘Lock CXD’ and accept the transaction via MetaMask.
- Congratulations, you will now have locked your CXD, and have earned vlCXD.
You can only have one lock per wallet. To get more vlCXD, you can add more CXD to your lock, or increase the length of your lock.
Note: vlCXD is not a tradable token. You will be able to view it by searching your wallet on Etherscan, however, you will not be able to trade it (buy, sell, or transfer) until you have unlocked it for CXD, after the lock period you have chosen has expired.
vlCXD Dune Dashboard
Our Data Scientist has prepared a Dune dashboard that demonstrates, in real-time, the total amount of vlCXD and average lock duration amongst all users.