veSync Overview
- What is veSync?
veSync is a decentralized exchange (DEX) built on zkSync Era that innovates with liquidity, voting, and rewards integration, using a ve(3,3) model for community empowerment. It offers fast, cost-efficient transactions and leverages zk-rollups for scalability and lower fees. The ve(3,3) model in the context of veSync refers to an innovative incentivization mechanism that blends liquidity provision, voting rights, and rewards distribution within the decentralized finance (DeFi) ecosystem. This model aims to engage and reward community members for their participation and contribution to the platform's growth and governance, encouraging long-term commitment and enhancing the overall DeFi experience on the zkSync network.
- Main Features
- Incentivization model for stakersDifferent tiers of liquidity poolsReward system in placeMultiple bridges integratedFast and cheap transactions
- Blockchains
- ZkSync Era
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Frequently asked questions
vsSync utilizes two tokens for utility and governance: the $VS as an ERC-20 token for rewarding liquidity providers, and $veVS as an ERC-721 governance token, functioning as an NFT. $VS holders can lock their tokens to receive $veVS, enhancing their voting power and rewards, with the potential to split, increase, and trade $veVS on secondary markets. The lock period can extend up to one year, where longer commitments yield higher voting weight and rewards.
In the ve(3,3) mode DEX of veSync, veVS holders engage in governance, influencing the protocol’s development and earning rewards through weekly votes on liquidity gauges. They gain full access to trading fees and bribes linked to their chosen pools. This involvement not only incentivizes participation but also fosters the protocol's evolution and growth.
At veSync, trading fees remain in the tokens traded, with rates for Stable and Volatile Pools starting at 0.02%, adjustable up to 0.05%. Concentrated Pools may incur higher fees. This structure allows for varied fee rates across different liquidity pools, offering flexibility to cater to the specific needs of each pool.
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