Locking and Governance

How does locking work in AstridDAO?

To start locking, all you need to do is deposit your ATID token to the AstridDAO locking contract, and specify the lock-up period. For a given amount of ATID tokens, the longer you lock up the ATID tokens, the more veATID tokens you will get, which represents a share of voting power and could earn pro rata share of the borrowing and redemption fees in BAI and collaterals.

What is veATID?

Unlike ATID, veATID is non-transferrable, and can only be generated after locking the ATID for a period of time. It is the only token in AstridDAO that can represent voting power and share the transaction fee generated in the network.

How much will my veATID earn?

Your veATID tokens will earn a share of the fees equal to your share of the total veATID generated, at the instant the fee occurred.

Is there a lock-up period if I lock ATID to generate veATID?

Yes, there will be lock-up period associated with locking ATID to generate veATID. After the lock-up period, you are free to withdraw ATID tokens, but do notice that we don't allow partial withdraw. Say if you locked 10 ATID tokens for 4 years to generate 80 veATID tokens, then after 4 years, if you decide to take out ATID, you have to take out all 10 ATID tokens (which will burn 80 veATID tokens).

Are staked ATID tokens used to backstop the system (like Maker) or for governance?

Yes, ATID tokens are used to backstop the AstridDAO system and are used for governance through veATID.