Governance locked token
Note: OneStake Finance will launch veOST token system when the platform starts DAO governance with OneStake community.
veOST is not tradable or transferable and can only be obtained by staking OST tokens. The amount of the veOST balance is based on the amount of OST tokens locked, and the time left before the unlock. The veOST balance is linearly decreasing since the time of lock. The OST tokens locked can not be withdrawn before the timelock has expired. However, it is possible to extend the timelock or increase the amount of staked OST tokens. The algorithm for calculating the amount of veOST tokens is the following.
The OST token（let amount be N） can be locked for a selectable locktime t_l, where t_l < t_max, and t_max = 4 weeks. After locking, the time left to unlock is t ≤ t_l. The amount of veOST token(N) is :
This algorithm sets the amount of veOST to be both amount- and time- weighted, which is suitable to represent a community member’s support and confidence in OneStake Finance.