We are pleased to announce the launch of veSET. veSET is a non-transferable ERC-20 token.
veSET will be used in Stabilize Protocol for proposal initiation and voting. This is the first step towards DAO for Stabilize since launch.
We have completed the initial deployment of veSET and will go live at 2021–11–21 14:00 UTC.
How to get veSET
In the SET Pool, select Locker, stake your $SET into Locker Staking, while receiving an equal number of veSET.
Benefits for veSET holders
- Boost 2.5x revenue than normal staking
- Get the same amount of $veSET
- $veSET holders have the right to govern and vote on the protocol
- $veSET holders can capture airdrops and other rewards
In the Roadmap (Phase 1) released last week, we illustrated our development focus for this phase, which is to start building DAO for Stabilize.
In our previous governance, we have tried to vote for the new collateral for Stabilize using Twitter Poll, and both Twitter Polls were very successful, reinforcing our commitment to building the DAO.
As a decentralized product, we insist that decentralized governance is the core of ensuring fairness and security.
With the improvement of the community and a deeper understanding of the protocol, we will fully transition to a decentralized governance model.