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Governance System

Governance System

HOOKED Exchange lets the community make important decisions! When you lock HOOKED tokens, you get a special NFT that gives you voting power.

How it works:

  • 🗳️ Vote with NFTs - Lock tokens, get voting power that never decreases
  • 📊 Direct rewards - Choose which pools get weekly HOOKED token rewards
  • 🔄 Simple system - No complex time limits or decay mechanics
  • 💰 Earn incentives - Get rewarded for participating in governance

veHOOKED NFT System​

Think of veHOOKED NFTs as your "voting membership cards" for HOOKED Exchange.

What you get:

  • Voting power - 1 locked HOOKED token = 1 vote
  • Never expires - Your voting power stays the same forever
  • Can unlock - Choose to unlock your tokens over 2 years if you want
  • Transferable - You can sell or trade your veHOOKED NFT

It's like having a permanent membership that gives you a say in how rewards are distributed!

Voting Mechanics​

Voting is simple: lock tokens, get NFT, vote for pools to receive rewards!

How voting works:

  • Equal power - 1 locked HOOKED = 1 vote (never changes)
  • Weekly voting - Vote every week to direct rewards
  • Choose pools - Pick which trading pools get HOOKED rewards
  • Earn incentives - Get extra rewards from pool creators

Vote for pools you believe in and earn rewards for participating!

NFT Management​

Managing your veHOOKED NFTs is straightforward:

What you can do:

  • Create - Lock HOOKED tokens to get your voting NFT
  • Add more - Lock additional tokens to increase voting power
  • Combine - Merge multiple NFTs into one stronger NFT
  • Trade - Sell or transfer your NFT (when not voting)

Think of it like managing trading cards - you can collect, combine, and trade them!

Emission Allocation​

Every week, HOOKED tokens are given out as rewards. You get to vote on where they go!

How it works:

  • Weekly rewards - New HOOKED tokens distributed each week
  • You choose - Vote for which pools get the rewards
  • Proportional - More votes = bigger share of rewards
  • Bonus rewards - Pool creators offer extra incentives for votes

It's like voting for your favorite charity, but the pools you vote for get HOOKED rewards!

Vesting System​

Want your locked tokens back? You can choose to unlock them over 2 years.

How unlocking works:

  • 2-year process - Tokens unlock slowly over 24 months
  • Lose voting power - Can't vote while unlocking
  • Stop and claim anytime - Get unlocked tokens and forfeit the rest
  • Proportional to time - Longer you wait, more tokens you can claim

You can claim your unlocked tokens at any time after 1 hour, but you'll forfeit any remaining locked tokens!

Participation Guidelines​

Getting started with governance:

  • Start small - Lock a few tokens to try voting
  • Spread votes - Don't put all votes in one pool
  • Stay active - Vote every week for best rewards
  • Research pools - Pick pools you believe will succeed

The more you participate, the more influence you have in directing rewards!

Learn More: