How to Lock PEARL and Vote on Pools
Last updated
Last updated
Click on “Connect Wallet” and select your preferred wallet.
In this demonstration, Metamask is selected. Note that using other wallets might result in different prompts in your wallet.
Confirm the connection in Metamask.
Now you can access the . Select the tab “My Locks”.
Click on “Create Lock” and input the amount of PEARL you wish to lock. Select the lock duration from a minimum of 2 weeks to a max of 2 years. Longer locks result in higher vePEARL voting power.
Confirm the lock creation clicking on “Lock PEARL”. Approve the token spending and execute the transaction.
Your new vePEARL lock will show in the tab “My Locks”, where you can manage it through multiple actions:
Vesting: Since the lock is designed to keep perpetually the duration set at the time of the locking, the position is not automatically vested. To actually start the vesting, you have to deposit the vePEARL position into the vesting contract, and from that time it will take the lock duration to completely vest. Tokens can be withdrawn from the vesting contract at any time. When a vePEARL position is deposited into the vesting contract, voting power and vesting duration decrease proportionally over time.
Increase lock: You can increase the amount of PEARL of your lock. If you selected less than the max lock duration, you can also extend its length increasing your voting power.
Merge: If you have multiple vePEARL positions, you can merge them into a combined lock. Note that the resulting lock will default to the lock period of the longer duration.
Split: You can also split an existing lock into up to 12 new positions to manage them individually.
Transfer: Finally, you can transfer your lock to a different wallet address.
After your lock is created, you can now go on the to cast your votes on the pools you wish to incentivize with PEARL emissions. By doing so, you will also start earning incentives offered to voters on each pool.
Select the pools you prefer and allocate your votes clicking on “Cast votes”. Note that votes are expressed in percentage of your total voting power.
The voting process repeats every epoch, which lasts for a week ending every Thursday at 00:00 UTC. You will need to manually cast your votes every epoch.