veTINC stands for voting escrow TINC, which is the voting token for Tiny World and can only be obtained by locking TINC in the gaming pool.
- 1.TINY DAO governance rights.
- 2.Treasury share rewards.
- 3.Unlock exclusive game play for Tiny World games.
The longer you lock your TINC for, the more veTINC you'll get. The minimum locking time is 1 week and the maximum locking time will be 4 years. The current maximum locking time is 1 year. The amount of veTINC you obtain depends on how long you lock up you TINC tokens for. The longer you stake TINC for, the more veTINC you will obtain.
1 TINC locked for 1 year = 1 veTINC.
1 TINC locked for 2 year = 2 veTINC.(Coming Soon)
1 TINC locked for 3 year = 3 veTINC.(Coming Soon)
1 TINC locked for 4 year = 4 veTINC.(Coming Soon)
Your veTINC will gradually decrease as your escrowed tokens approach their lock expiry. This can be avoided by increasing the locking time or increasing the amount of TINC staked to the pool. Users can withdraw their TINC once the locking time has elapsed.
1. The TINC staking page contains the following information:
- Total staked & locked TINC value in TinyDAO
- Average locked duration
- Your locked TINC
- Your veTINC
2. Click on “Lock”, put in the amount of TINC you’d like to lock and choose the desired duration. Please note:
- You will NOT be able to withdraw the locked veTINC until the chosen locking duration is up.
- The longest locking duration is now set at 12 months. The longer options will be enabled gradually in the future.
3. You will be given an estimate amount of veTINC you can get. Locking TINC for the first time would require you to approve first. Click on “Approve”, confirm the transaction in your wallet to continue.
4. Now click on “Lock”. Please make sure to read carefully the message shown on the pop-up window. Click on “Yes,” if and ONLY IF you have fully understood the given message and have decided to lock your TINC for the given duration. After that you can see your locked TINC and veTINC information at TinyDAO homepage. You can always lock more TINC or extend your locking duration to obtain more veTINC.