> For the complete documentation index, see [llms.txt](https://blockwise-1.gitbook.io/blockwise/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://blockwise-1.gitbook.io/blockwise/tokenomics/vebw.md).

# veBW

<figure><img src="/files/AP0vWP9PEdOg9MYEzevK" alt=""><figcaption></figcaption></figure>

#### `veBW` **Utility** <a href="#vethe-utility" id="vethe-utility"></a>

* Protocol revenue access: `veBW` holders can vote for gauges on a weekly basis, and access 80% of the trading fees (later 90%) and 100% of the bribes for the associated pool.
* Governance participation: `veBW` holders can partake in governance and cast votes for the protocol improvement proposals.

`veBW` voters receive:

* Trading fees generated by the pool(s) they vote for
* Bribes deposited for the pools they vote for
* Weekly `veBW` distribution (rebase)

#### `veBW` **Specifications** <a href="#vethe-specifications" id="vethe-specifications"></a>

* *ve(3,3) Mechanics*: The Olympus DAO anti-dilution method, commonly known as the rebase mechanism, is combined with Curve's *vote-escrowed* model in the Solidly-initiated ve(3,3) Mechanics concept. To safeguard `veBW` holders from dilution and to enable a dynamic distribution of `veBW` among participants over time, the anti-dilution level has been capped at 30%.
* *Gauge:* A pool with dynamic `$BW` rewards based on `veBW` weekly voting allocation. No negative voting.
* *Bribes*: Custom amount of tokens paid by a third party on a gauge to `veBW` holders in exchange for their votes.
* *Max Lock*: 2 years.
* *Farming Boost*: This feature has not been included to prevent from the emergence of any profit maxi protocols on top of Blockwise. Conversely, a dynamic and decentralized governance over `$BW` emissions is fostered over time.
* *Flexibility*: `veBW` positions can be merged, split, and sold on the secondary market.

#### Voting <a href="#voting" id="voting"></a>

For voting, you need to be aware of epochs. Each epoch lasts for 7 days, after which the bribes and trading fees are distributed. You earn only from the gauges (pools) you have voted for.

* Trading fees and bribes are claimable as a lump sum after the next Epoch has ended (n+2)
* You have to vote weekly in order to be eligible for the fees and bribes, unless you use an optimizer
* You can pre-approve your vote for a number of weeks in advance (coming soon)
* You can change or reset your vote at any time
* Vote weights reset each Epoch. You need to vote every Epoch in order to earn the bribes and trading fees.


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