Lock MMF for veMMF to receive a share of platform profits & use veMMF tokens to receive yield farming boosts!
- 1.Lock your MMF tokens at https://mm.finance/vemmf to get veMMF tokens. These tokens will represent your voting power. The more tokens you have, the more say you have in directing the future of the protocol. When your MMF tokens are locked up, you will be able to still earn APR. Remember, longer lock-ups equates to a higher boost in the amount of veMMF tokens you have. This incentive is provided to those who believe in the protocol long term, and are willing and able to lock their MMF tokens for longer periods of time.
- 2.Head to our liquidity gauge page at https://mm.finance/governance. This page will allow you to vote for projects that you believe in. You can assign a weightage, between 0%-100% for each project that you believe in, and your veMMF tokens will be allocated accordingly. Some projects might choose to bribe you into voting for them. This is represented in the voting dashboard where you can see the type of tokens you will be paid in, and the amount that will be released to you in the next cycle. Each voting cycle takes 2 weeks, and any rewards that you are entitled to from the previous cycle will be disbursed across this 2 week period.
- 3.At the end of each cycle, liquidity farms will be created for projects based on the amount of veMMF tokens that has been used to vote for each project. As a MMF/veMMF holder, you can continuously take part in the governance process to direct the future of liquidity in the Cronos ecosystem. At the same time, you get to earn bribes from projects that seek to build liquidity on the MM Finance DEX.
- 1.You will be able to register your protocol through the MM Finance team. (Dashboard for registration to be implemented soon).
- 2.You will also be able to administer bribes through the MM Finance team for now. In the future, a dashboard will be setup to allow you to manually allocate token bribes to get veMMF holders to vote for your yield farm.
- 4.After each voting cycle, your project's token will be added/updated into the MM Finance Masterchef.
7.7x multiplier is assigned to the farms (based on current calculations) Eg, if block emission is at 100 MMF per block. Total multiplier assigned to farms is 50, a 7.7 multiplier would be 7.7/50 * 100 MMF per block = 15.4 MMF per block assigned to veMMF farms. 15.4 MMF per block will be approximately 86400 (total seconds in a day)/5.7s (cronos block) *15.4 = 233431 MMF a day -
The amount of multiplier applied to the newly voted farms: 7.7 * voteForFarm / totalVoteAmount For example, there is a total of 100 veMMF vote casted. 10 votes went for MUSD. This means that we will be creating a MUSD/USDC farm at 7.7 * 10/100 = 0.77 Multiplier
Once the voting has ended (voting cycle ends), the bribe rewards will be distributed to the stakers over 14 days (voting cycle +1) Eg, total bribe on MUSD is $1000 worth of MMF There is 10 votes on MUSD pool on this current voting cycle. Once it ends, assuming i have 2 votes, i will receive 2/10*$1000=$200 over 14 days (during voting cycle +1). While i am receiving this reward, i will regain back my veMMF and will be able to continue voting for the new cycle. Each voting cycle will last 14 days.