veGIGA
veGIGA is locked GIGA that earns a share of the revenue generated by the protocol. There are no gauge votes to cast and no bribe markets to track: emission allocation is handled by the protocol.
The Lock
Locking GIGA for six months creates veGIGA. A lock decays toward expiry over time and is designed to be renewed. Positions that are kept renewed keep earning; positions left to decay stop earning and eventually unlock.
Staking
To earn rewards, veGIGA must be staked into one of the protocol vaults. Each vault pays in a different asset:
| Vault | Reward |
|---|---|
| GIGA MAX | Rewards compound into veGIGA |
| MEGA | Paid in MEGA |
| USDm | Paid in USDm |
| wETH | Paid in wETH |
Staker revenue comes from protocol fees, including 20% of swap fees from non-gauged pools.
Decay and Renewal
Renewal does not need to be constant: there is a 30-day grace window. If a lock decays more than 30 days without being renewed, the position stops earning until it is renewed again. Renewing within the window has no effect on earnings.
Exiting
There is no exit penalty. To exit, stop renewing and unstake from the vault: the position stops earning after the 30-day window, and the underlying GIGA can be withdrawn once the remaining lock time expires. The only cost of exiting is the yield not earned while waiting.