FAQ - veABOND

Is veABOND a new token? Can it be transferred?

veABOND is an NFT (BEP-721 token) that represents your ABOND locking status, based on the amount of ABOND locked and the remaining time lock. Here’s the contract address for veABOND: https://bscscan.com/token/0x36cc29cd24d55fe8e56532a0fcc13978bf9f7293 As an NFT, it can definitely be transferred.

Why did my veABOND balance decrease? How to calculate its balance?

veABOND balance is linearly decreasing to 0 based on the remaining lock duration. Therefore when we are approaching the unlock time, your balance decreases.

veABOND balance can be calculated by:

veABOND = ABOND Locked * (Lock Time / Maximum Lock Time)

Maximum Lock Time (2 years) = 2 * 365 * 68400 = 63,072,000 seconds

How to increase my veABOND?

Once you have an active veABOND position, you can either add more ABOND or extend your lock duration to increase your veABOND balance. Another option is to open another veABOND position by locking ABOND to further increase it.

What happens when the position unlocks? Can I renew right away?

When the veABOND position is unlocked, you can withdraw all the locked ABOND.

To renew your position, you need to withdraw all the ABOND and set up a new position by choosing the amount to lock and the lock duration.

What is locking rewards?

Currently, the utility of veABOND lies in the Launchpad tiers. Other veABOND utilities (detailed on the veABOND page) will be introduced soon.

What is the "PERMALOCK"?

PERMALOCK, an abbreviation for Permanent Lock, allows you to sustain a constant maximum veABOND position without the necessity of frequent lock renewals. You have the flexibility to disable it whenever you choose, triggering a gradual reduction in your lock period, which initially spans two years.

Why does it show 54 days or another duration when I choose 45 days?

This is because the lock occurs weekly on Thursdays, and the buttons represent the minimum possible lock time for each lock period.

Is veABOND exclusive to the BNB chain?

Yes, it is exclusive to the BNB chain for now.

If I lock 2,500 ABOND for 45 days, earning 2,500 Launchpad points, and then lock another 2,500 ABOND for 6 months, earning 7,500 points, will my total of 10,000 Launchpad points qualify me for the Silver Tier?

Yes, indeed. You qualify for the Silver Tier.

If I lock 10,000 ABOND today for 45 days to obtain 10,000 Launchpad points, will I retain those 10,000 points for the next 45 days?

Certainly! Launchpad points remain constant throughout the lock period and do not decrease.

If I lock 100 ABOND for a year and receive 50 veABOND, how many tokens will be returned after the locking period ends? Will it be 100 ABOND or 50 ABOND?

After the lock period expires, you can withdraw the original amount of ABOND you initially deposited when you created the position (100 ABOND in this case).

What token can I withdraw after redeeming veABOND with fveABOND once the lock period ends?

After the lock period ends, you'll be able to withdraw ABOND tokens, with the amount matching what you used (as fveABOND) when creating the position.