$veSKY Voting

Only $SKY that's locked as veSKY can be used for voting. New epochs commence on Thursdays at 00:00 UTC. It's advisable to vote prior to this. Although waiting might enable you to observe incoming bribes, voting early ensures timely submission.

Restrictions

When voting, keep the following constraints in mind:

• If your wallet contains multiple $veSKY NFTs, each must be selected individually.

• Votes can only be cast ONCE per epoch. Ensure you allocate your full voting power and finalize your choices before voting. Once cast, votes cannot be modified for that epoch.

Rewards

Voting carries various benefits:

• It directs $SKY token incentives. Prioritize this when casting your vote.

• Voting for a pool entitles you to a proportionate share of the pool's trading fees (only applies to LPs staked to receive $SKY rewards).

• Voting for a pool earns you a proportionate share of all the bribes contributed to the pool by third parties. Bribes can be added at any point within an epoch. Votes are snapshotted at around 23:59 UTC every Wednesday, with bribe rewards accessible 24-48 hours post the commencement of the new epoch.

• Weekly voting is mandatory to qualify for bribes. This action incurs gas fees. Failure to vote weekly means you'll continue directing $SKY to the gauge but won't receive a share of the bribes.

Reset to Transfer

$veSKY holders wishing to transfer or sell their NFTs should understand that they must first reset their NFT, effectively casting a vote for NO gauges in the current epoch. This results in the forfeiture of trading fees and bribes. Those receiving the NFT should note that they won't be able to vote until the subsequent epoch. This mechanism rewards consistent voting.

Voting APR

On the user interface, there's a column displaying the voting APR. This metric is calculated as follows

voting APR = (TVB / TV) * weeks / $SKY price * 100%

Where:

• weeks = 52.179 (approximate number of weeks in a year)

• TVB = total value of bribes in USD

• TV = total vote count