🔒ZERO Native Tokens
ZERO uses four tokens to manage its utility and governance:
$ZERO — ERC-20 utility token of the protocol
$oZERO — ERC-20 call option token of the protocol which is also yield bearing
$veZERO — ERC-721 governance token in the form of an NFT (non-fungible token)
$bveZERO - ERC-20 tokenized veZERO that is used as bribe rewards for Stabl Labs Synergistic Inter-Protocol Emissions (SIPEs)
$oZERO
$oZERO - 0x3A29CAb2E124919d14a6F735b6033a3AaD2B260F
$oZERO is used for rewarding liquidity providers through emissions.
Liquidity providers in gauges receive the $oZERO emissions directed to the gauge but forgo receiving swap fees (users who manage their own concentrated liquidity position are entitled to the ALM's fee, which is about 13% of the swap fees that they generate). $oZERO is a call option token that is used as the emission token for the Retro protocol. 1 $oZERO lets you purchase 1 $ZERO token at a discounted rate or lock your $oZERO 1:1 for veZERO (max locked). Holders of $oZERO can exercise the right to discounted $ZERO by paying with $CASH to convert their $oZERO tokens into $ZERO. The discount rate may be subject to change based on market conditions.
Note: You can also always sell your $oZERO in the market to exit the position without having to exercise the call option.
veZERO
$veZERO - 0xB419cE2ea99f356BaE0caC47282B9409E38200fa
veZERO is used for governance. Any $ZERO holder can vote-escrow their tokens and receive veZERO (also known as veNFT) in exchange. Additional tokens can be added to the veZERO NFT at any time.
veZERO holders receive 78.33% of trading fees from the gauge they voted for.
veZERO voters will receive the $CASH rebase for the pairs that they vote for in the form of autobribes. This means that if they vote for pairs that contain a large amount of $CASH, they will receive more $CASH revenue from that pair during the week than they could from smaller $CASH pairs or pairs that don't include $CASH at all.
veZERO Specifications:
ve(3,3) Mechanics: Combination of Olympus DAO's rebase mechanism and Curve's vote-escrowed model
Anti-dilution level capped at 15% to protect veZERO holders from dilution and distribute veZERO dynamically among participants over time (30% rebase for first 90 days of ZERO's launch)
Gauge: Pool to earn $ZERO rewards based on veZERO weekly voting allocation; no negative voting
Bribes: Custom amount of tokens paid by a third party on a gauge to veZERO holders in exchange for their votes
Max Lock: 2 years
Farming Boost is included, this will boost the emissions of veZERO holders that are LPing
Flexibility: veZERO positions can be merged, split, and sold on the secondary market
Voting:
Epochs last for 7 days, after which bribes and trading fees are distributed
Earn only from gauges you have voted for
Trading fees and bribes claimable as a lump sum after the next Epoch has ended (n+2)
Weekly voting required to be eligible for fees and bribes, unless using an optimizer
Pre-approval of vote coming soon
Vote can be changed or reset at any time
Vote weights reset each Epoch; must vote each Epoch to earn fees and bribes.
bveZERO
$bveZERO - 0xdC3736F80480C344561e413ac7F33645049452d2 (polygon POS)
- 0x54c331Bb7d32fBfC17bc9ACcaB2e2D12d0d1B222 (Polygon zkEVM)
bveZERO is an ERC-20 token that is critical for Stabl Labs' innovative Synergistic Inter-Protocol Emissions (SIPE) ecosystem. You can read the specifics about this system here: https://medium.com/@stabl.labs/introducing-synergistic-inter-protocol-emissions-on-retro-324ee3237027 bveZERO is essentially a tokenized version of a veZERO NFT, that once redeemed becomes a new veNFT in the user's wallet.
It is primarily offered as bribe rewards on ZERO's sister DEX, Retro. The user votes for gauges on RETRO, collects bveZERO as a reward, and redeems on the Retro frontend. At that point the bveZERO is bridged via LayerZero to Polygon zkEVM and redeemed for veZERO, which appears in the users wallet.
This provides an inter-protocol and inter-chain ecosystem where veNFT holders of one protocol can grow their veNFT position on another protocol just by voting for gauges.
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