Sirius Finance offers lock periods from 1 week to 3 years and 1 SRS with a 3-year lock period equals 1 veSRS which will keep declining as the unlock date approaches.
A 30%-50% penalty is charged if users decide to unlock the SRS in advance which will either be burned or added to the Treasury which will be mainly decided by future governance.
How to vote for my best benefits?
To put it simply: if you are a BAI hoarder for whatever reason, surely you will want the 4BAI farm to have the highest APR so that you can make the best out of your BAI by depositing to BAI metapool and staking the 4BAI LP on the 4BAI farm to earn more rewards.
What is voting power?
Voting power is the authority you have to make or partake in decision making and in Sirius finance, your voting power represents the veSRS you currently have. The more veSRS, the bigger your voting power. Both decline as the unlock date approaches.
1）Enter the SRS amount and choose the lock period to get veSRS:
*1 SRS with a 3-year lock period = 1 veSRS
2）Click on “Preview lock” and confirm the transaction:
*Unlocking SRS before the unlock date will result in a 30% penalty being charged.
veSRS will decline as the unlock date approaches, so will the voting power. As to maintain its voting power, users have to keep locking more SRS or add lock period.
*The longest or maximum locking period is up to 3 years.
As a veSRS holder, you can now share a part of 50% of the swap fees proportional to your share of the Pool.
Now, understand how does the vote works for your best benefits!
Owning veSRS is key if you really want to decide or play a part in the success of Sirius finance. It gives you the power to decide the direction of the project and also rewards you. veSRS holders get 50% of fees that goes to the Admin and this serves as a reward for participating in decision-making.
Your vote is your power and it counts, it’s time to lock up some SRS to get veSRS to make your voice heard and to get rewarded for doing that.