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Multichain

veMULTI Mainnet Lives NOW

Get your MULTI prepared

We are thrilled to announce that veMULTI mainnet is officially launched today May 9th, 2022. Stake your MULTI to mint veMULTI NFT and make your voice heard in Multichain community. Q1 2022 Multichain bridge fees ($ 3,901,975.04) will be distributed in USDC over the following 9 weeks, until July 14th.

Where: https://app.multichain.org/#/vest

When:

  • MULTI staking opens on May 9th at 10:00 AM (UTC) https://app.multichain.org/#/vest
  • The first snapshot on May 12th at 02:00 AM (UTC)
  • Reward claims commence on May 12th after 02:00 AM (UTC)
*Note: The snapshot takes place every Thursday at 02:00 AM (UTC), reward claims will begin shortly afterwards.Rewards are calculated on a weekly basis after every Thursday’s snapshot.

What is veMULTI?

veMULTI is the governing scheme for multiDAO. Anyone who stakes MULTI will receive veMULTI NFT. The NFT holders will have the power to initiate and vote for the governance proposals. The rights and power are determined by the MULTI amount and lock duration.

  • 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

veMULTI NFT is the first tradable NFT with which there are juicy rewards to be distributed on a weekly basis in addition to the NFT value.

You are allowed to extend the locking durations before it expires. Once your lock expires, you can withdraw your MULTI after you claim all the rewards.

How to Stake

  1. Get your MULTI prepared

MULTI contract address on Ethereum network: 0x65ef703f5594d2573eb71aaf55bc0cb548492df4

2. Visit https://app.multichain.org/#/vest and Connect to Ethereum Network and your Metamask wallet

3. Create Lock

4. Enter MULTI amount and confirm contract approval

5. Select locking duration and lock MULTI

Credits

Curve Finance & Michael Egorov for their ve design

Solidly Exchange & Andre Cronje for the veNFT design

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