veMEZO
veMEZO (voting escrow MEZO) is an NFT that represents your locked MEZO tokens on Mezo Network. While veMEZO doesn’t provide independent voting power for governance, it grants the ability to boost veBTC positions and earn rewards in the process.
What is veMEZO?
Section titled “What is veMEZO?”veMEZO is the key to the boosting mechanism in Mezo Earn. Each veMEZO NFT contains:
- Locked amount - How much MEZO you’ve locked
- Lock duration - When your lock expires (1-4 years)
- Voting power - Your ability to boost veBTC gauges
- Used weight - How much of your voting power is currently allocated
- Unlock date - When you can withdraw your MEZO
How to Obtain veMEZO
Section titled “How to Obtain veMEZO”You obtain veMEZO by locking MEZO tokens on Mezo Earn:
- Visit Mezo Earn
- Navigate to the Lock section
- Select MEZO as the token to lock
- Choose your lock amount
- Select your lock duration (1-4 years)
- Confirm the transaction
- Receive your veMEZO NFT
Lock Duration Options
Section titled “Lock Duration Options”| Duration | Weight Multiplier | Use Case |
|---|---|---|
| 1 year | 0.25x of max | Minimum commitment |
| 2 years | 0.5x of max | Medium-term participation |
| 3 years | 0.75x of max | Stronger commitment |
| 4 years | 1.0x (maximum) | Maximum voting power |
Longer locks mean more voting power and greater ability to earn rewards.
Voting Power and Decay
Section titled “Voting Power and Decay”Like veBTC, veMEZO voting power decays linearly over time:
Voting Power = Locked Amount × (Time Remaining / Max Lock Duration)
Example
Section titled “Example”If you lock 1,000 MEZO for 4 years:
- Year 0: 1,000 veMEZO voting power
- Year 2: 500 veMEZO voting power
- Year 3: 250 veMEZO voting power
- Year 4: 0 veMEZO (unlock available)
Maintaining Voting Power
Section titled “Maintaining Voting Power”To prevent decay:
- Extend your lock - Add time to maintain or increase power
- Enable auto-max lock - Automatically maintain maximum lock duration
How veMEZO Works with veBTC
Section titled “How veMEZO Works with veBTC”veMEZO’s primary function is to boost veBTC positions. veMEZO holders allocate voting power to veBTC gauges, which increases the gauge’s boost. In return, veMEZO holders earn bribes while veBTC holders receive higher rewards.
The Boost Mechanism
Section titled “The Boost Mechanism”- veBTC holders have a base voting power
- veMEZO holders vote on veBTC gauges
- Votes increase the gauge’s boost multiplier (up to 5x)
- Higher boost = more rewards for the veBTC holder
- In return, veMEZO voters earn incentives from the gauge
Benefits of Holding veMEZO
Section titled “Benefits of Holding veMEZO”1. Boost Multiplier for Others
Section titled “1. Boost Multiplier for Others”Your veMEZO gives you the power to boost veBTC positions by up to 5x. This makes your voting power valuable in the ecosystem.
2. Earn Incentives (Bribes)
Section titled “2. Earn Incentives (Bribes)”Through Matchbox, veBTC gauge owners offer incentives to attract your votes. By voting on their gauges, you earn a proportional share of these bribes.
3. Rebase Rewards
Section titled “3. Rebase Rewards”veMEZO holders receive weekly MEZO emissions that protect against dilution. The rebase amount depends on:
- Your veMEZO voting power
- Total veMEZO in the system
- Weekly emission schedule
4. Passive Income
Section titled “4. Passive Income”Beyond active voting rewards, you earn from:
- Protocol fee distributions
- Rebase emissions
- Matchbox incentives
Using veMEZO on Matchbox
Section titled “Using veMEZO on Matchbox”On Matchbox, veMEZO holders can:
Browse Gauges
Section titled “Browse Gauges”View all available gauges with key metrics:
- Total veMEZO weight already voting
- Current boost multiplier
- Available incentives
- Projected APY if you vote
Allocate Votes
Section titled “Allocate Votes”Distribute your voting power across multiple gauges:
- Select your veMEZO position
- Choose gauges to support
- Set percentage allocation for each
- Confirm your vote transaction
Monitor Earnings
Section titled “Monitor Earnings”Track your performance:
- Current APY from your voting allocations
- Earned bribes ready to claim
- Historical performance data
Claim Rewards
Section titled “Claim Rewards”Collect your earned incentives:
- Visit the Dashboard
- View claimable rewards
- Claim to your wallet
Voting Strategy Considerations
Section titled “Voting Strategy Considerations”Diversification vs. Concentration
Section titled “Diversification vs. Concentration”- Diversify: Spread votes across multiple gauges to reduce risk
- Concentrate: Focus on high-APY gauges for maximum returns
Gauge Selection Criteria
Section titled “Gauge Selection Criteria”When choosing where to vote, consider:
| Factor | Why It Matters |
|---|---|
| Incentives offered | Direct impact on your earnings |
| Current vote weight | Higher competition = lower APY per vote |
| Gauge profile quality | Indicates serious, long-term operators |
| Historical performance | Track record of consistent rewards |
Timing
Section titled “Timing”- Vote early in epoch - Secure your share before competition increases
- Monitor throughout - Adjust if better opportunities emerge
- Don’t miss epochs - Votes reset weekly; non-voting forfeits rewards
Key Considerations
Section titled “Key Considerations”Long Lock Periods
Section titled “Long Lock Periods”veMEZO requires a minimum 1-year lock. Make sure you’re comfortable with this commitment before locking.
No Independent Governance Power
Section titled “No Independent Governance Power”Unlike some protocols, veMEZO doesn’t grant standalone governance voting rights. Its power comes from boosting veBTC positions.
Active Participation Required
Section titled “Active Participation Required”To maximize earnings, you need to:
- Vote each epoch
- Monitor gauge performance
- Claim accumulated rewards
veMEZO in Matchbox
Section titled “veMEZO in Matchbox”On Matchbox, your veMEZO enables you to:
- View your positions - See all veMEZO NFTs in the Dashboard
- Browse gauges - Explore all available opportunities
- Vote strategically - Allocate power to maximize rewards
- Track APY - Monitor current and projected earnings
- Claim bribes - Collect rewards from your votes
Next Steps
Section titled “Next Steps”- Understanding Gauges - Learn what you’re voting on
- Epochs and Timing - Master the weekly cycle
- Voting Guide - Step-by-step voting instructions