Anything you want to know about veMULTI
We are here to answer your questions
- What’s veMULTI?
Stake MULTI to get veMULTI NFT — a locked state of MULTI, in the form of tradeable NFT. With veMULTI, you will be able to participate in Multichain governance and receive Multichain bridge fees.
2. What can I get from veMULTI?
In addition to bridge fees distribution, veMULTI grants its holders voting power. Anyone who stakes MULTI will receive a percentage of veMULTI, the power of which is determined by the locked MULTI amounts and the locking durations. As per the scheme:
- 1 MULTI locked for 4 years = 1.00 veMULTI
- 1 MULTI locked for 3 years = 0.75 veMULTI
- 1 MULTI locked for 2 years = 0.50 veMULTI
- 1 MULTI locked for 1 years = 0.25 veMULTI
3. I lock MULTI for 4 years, why am I getting less veMULTIs rather than 1 MULTI : 1veMULTI
It is because Locktime is rounded down to weeks. The locking period recorded by the veMULTI system is shorter than the actual one.
4. How many rewards will be distributed?
According to the veMULTI proposal, 45% of the quarterly bridge fees will be distributed as rewards and dispersed every quarter. $3,901,975.04 bridge fees from Q1 2022 will be distributed in Q2 2022.
5. On which blockchain does veMULTI launch?
veMULTI has launched on Ethereum, Fantom and BNB chain.
6. How long should I lock MULTI?
It’s totally up to you. The maximum lock-up time is 4 years. The longer you lock MULTI, the more benefits you receive.
7. When can I stake MULTI?
Staking will be open on May 9th at 10:00 AM UTC
8. When will the rewards begin?
The first snapshot will take place on May 12th at 02:00 AM UTC.
9. When can I claim rewards?
USDC rewards will be calculated on a weekly basis after every Thursday’s snapshot. For example, if you stake MULTI before the first snapshot on May 12th at 02:00 AM UTC, you will be able to claim rewards afterward.
10. How many times can I claim rewards?
You can claim rewards multiple times during the weekly emission period, but you need to pay attention to the gas fee of your claiming tx, which is proportionate to the number of weeks you claimed.
11. What could I do if I forget to claim rewards?
No worries, it doesn’t matter, you can claim rewards afterward as usual.
12. How do rewards calculate?
Rewards will be implemented by Reward contract according to your power of veMULTI.
13. What will happen to my veMULTI as time passes?
If you don’t extend the locking durations, your veMULTI power will decay linearly over time.
14. Where can I find contracts of veMULTI?
- veMULTI Contract: 0xbba4115ecb1f811061ecb5a8dc8fcdee2748ceba
- Reward Contract: 0x44529a37a43bab8af2336698e31f2e4585ad7db6
- MULTI Token Address on Ethereum: 0x65ef703f5594d2573eb71aaf55bc0cb548492df4
- USD Coin Address on Ethereum: 0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48
- veMULTI Contract on Fantom: 0xE564cBcD78A76fD0Bb716a8e4252DFF06C2e4AE7
- Reward Contract on Fantom: 0xaC9CB5934948b96949A4CF1F8DfbA13f617d2836
- MULTI Token Address on Fantom: 0x9fb9a33956351cf4fa040f65a13b835a3c8764e3
- USD Coin Address on Fantom: 0x04068DA6C83AFCFA0e13ba15A6696662335D5B75