voSPOOL Token
voSPOOL is the Governance and Emission Routing Token within the Spool Ecosystem, it can be obtained via staking SPOOL Tokens and is non-transferable.
- The control is exercised through DAO Governance
- voSPOOL allows token holders to create and vote on Governance Proposals
- voSPOOL allows token holders to participate in Economical Governance
- voSPOOL controls the distribution of 50% of the SPOOL Token emissions
voSPOOL has an ERC20 interface since it is an ERC20 Token without the ability to be transferred between addresses. When a user stakes their SPOOL Tokens they accumulate voSPOOL at a rate of 1/156 per week (epoch) for the course of 3 (three) years, topping out at a rate of 1 voSPOOL per 1 staked SPOOL Token.
voSPOOL is gained every epoch, every epoch lasts 1 week (7 days). Every user who staked in a given epoch gets the same amount of voting power as everyone in that epoch, disregarding the fact if you staked on day 1 of the epoch or day 7 of the epoch.
PreDAO Members get their full voSPOOL Voting Rights automatically, it does not gradually increase. However, these voting rights can only be used for governance and not for voSPOOL Routed Emissions.
When a member of the PreDAO decides to claim their vested SPOOL Tokens their voSPOOL and corresponding voting power disappear. When they decide to stake their SPOOL Tokens again, they will have to accrue voSPOOL via the regular route.
Irrespective of how much SPOOL a user has staked, unstaking any amount will reset the accrued voSPOOL back to zero. This constraint applies to unstaking the full amount as well as to unstaking any other amount less than the full amount.
Last modified 6mo ago