$WASABI & veWASABI

WASABI and veWASABI

The WasabiX team believes in the values of fair launch. The protocols are developed independently, and the team did not take any money or tokens from outside investors. We believe the majority of the token recipients should be those who help and contribute to WasabiX ecosystem.

The main purposes of the WasabiX DAO token are to incentivise liquidity providers across on the WasabiX platforms (ETH, BSC, Polygon) as well as getting as many users involved as possible in the governance of the protocol.

Currently $WASABI has three main utilities: voting, staking and boosting. These utilities will require users to "vote lock" (staking) your WASABI and acquire veWASABI

veWASABI (voting-escrow WASABI) is a token that grants governance rights in Wasabix DAO. veWASABI is locked basically $WASABI tokens that are staked in the locker for a period of time. veWASABI grants multiple utilities in WasabiX DAO.

The main function of the $WASABI token is to stake it in WasabiX Locker to obtain veWASABI (voting escrow) tokens, which have several benefits. The details can be found below:

veWASABI stands for voting-escrow WASABI, it is basically $WASABI tokens that are locked for a period of time. The longer user lock $WASABI, the more veWASABI users obtain.

Lock to earn Fees + $WASABI + Airdrops

veWASABI holders can receive performance fees, staking rewards ($WASABI), and multiple airdrops from WasabiX platforms and partners.

Locking to earn from penalty

All liquidity providers receive WASABI rewards that vest for 3 months. Rewards can be claimed before the end of the vesting period but are subject to a 50% early exit penalty.

WASABI from the early exit penalty is distributed to the veWASABI holders. The most loyal WASABI holders will stand to gain the maximum benefit upon conclusion of the 3 month vesting period.

Boosting up to 2.5x

One of the main incentive for WASABI is the ability to boost your rewards on provided liquidity. Vote locking WASABI(veWASABI) allows you to acquire voting power to participate in the DAO and earn a boost of up to 2.5x on the liquidity you are providing on WasabiX Finance.

Voting

veWASABI holders can start voting on various DAO proposals and pool parameters. That includes: To change the platform parameters, such as debt ceiling, performance fees, gauge weight of each pool (weekly mineable WASABI)

Airdrops

veWASABI holder can receive airdrops from WasabiX Ecosystem in multiple chains.

WASABI Token Contracts

WASABI on ETH: 0x896e145568624a498c5a909187363ae947631503

WASABI on BSC: 0x86e73212002f80c57070efad4765ff0117de5aea