🅿️CYF Token

CYF tokens can be utilized for staking CYF to acquire veCYF. The daily emission is set at 50,000, and the CYF supply will not increase unless a relevant governance proposal is initiated and successfully passed. In the event of a vote to increase the supply cap, the change is subject to a 14-day time lock before taking effect.

The total supply of COF now is 100,000,000

veCYF

veCYF, serving as the protocol governance token, bestows increased voting power on protocol governance with a higher veCYF holding. Users can obtain veCYF by locking CYF, and holding veCYF provides users with protocol income and CYF rewards. veCYF tokens are minted upon users locking CYF and are burned as the lock time decreases.

Staking

Users can lock CYF to obtain veCYF, period from 2 weeks to 4 years. The locked-staking is time-weighted, so longer time locks will be allocated with more distributed veCYF.

1 CYF locked for 2 weeks = 0.009589 veCYF

1 CYF locked for 1 month = 0.020548 veCYF

1 CYF locked for 1 year = 0.25 veCYF

1 CYF locked for 4 years = 1 veCYF