The flux capacitor powering the DeLorean of our governance model, the Bumper DAO, is powered by vBUMP.
A representation of voting power within Bumper DAO, vBUMP is not a token you can hold or transfer, but a measure of ‘vests’ which are used to vote on proposals, shaping the future of the protocol. These vBUMP vests are intrinsically linked to the holding of BUMP, but can be delegated between users without giving up ownership of your actual tokens.
Getting vBUMP is as simple as playing Pac-Man - you've just got to stake your BUMP tokens in the DAO, dude. Just visit the Bumper governance dApp, connect your wallet and stake your tokens and hey-presto, you're sorted!
Once you’ve staked your BUMP, you can choose to optionally lock your tokens and gain additional vBUMP, but you won’t be able to remove your tokens during this time.
You can choose how long to lock your staked tokens for (if at all), and the duration of the lock affects your vBUMP multiplier; the longer the lock period, the greater the multiplier.
The multiplier of vBUMP is linear, between 1x (no lock) and 2x. If you lock for a full year, you get 2x the amount of vBUMP for every token you lock. If you lock for half a year, you’ll get a 1.5x multiplier, and so on.
Your bonus vBUMP decays, again in a linear fashion throughout the year, meaning that each day your amount of vBUMP slightly decreases until it gets back to the base level when your lock period expires.
The table below shows how this linear decay works, and assumes a user has already staked their tokens in the Bumper DAO, and then chosen to lock them for 1 year to reach the maximum multiplier of 2x.
The graph below shows the decay in vBUMP when a user locks 1000 BUMP tokens, gaining a 2X multiplier for locking over a 12 month period.
Of course, you can lock again should you so choose, and get your vBUMP amount back up to the full level.
For more flexible governance, you can choose to delegate your vBUMP (but not any bonus earned through a lock multiplier) to another user, who then gets to vote on proposals on your behalf.
If you decide to delegate your vBUMP, you can undelegate at any time, and vote on any proposals which have not yet entered the voting period.
This explains why we have a warm-up period for proposals - it provides a little time for anyone to either delegate or undelegate their vBUMP before the start of the voting period.
vBUMP is your ticket to influence and participate in Bumper DAO. By staking your BUMP tokens, or by being a trusted delegate, you can gain voting power and help shape the future of the protocol, and locking your staked tokens for a period of time grants additional vBUMP, making your vote count for more.
It's not just a vote - it's your voice in the Bumper community. So grab your vBUMP and let's make this governance model totally tubular!
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