SCOMP, veSCOMP & staking pool
SCOMP is the native governance token of Stablecomp and has a limited supply of 200.000.000 tokens. Holders can stake (lock) SCOMP in the staking pool to generate veSCOMP, the voting escrow token, which is not exchangeable with other crypto-assets, but unlocks benefits and rights on the platform:
- Boost staking rewards in FARM
- Earn a share of Fee redistribution
- Vote in the DAO
- More to come…
Locking SCOMP in the staking pool In order to stake their SCOMPs to obtain veSCOMP, the user must decide two things: the number of SCOMP tokens to be locked and the length of time for which the tokens will be locked. There is no limit on the amount of SCOMPs that can be locked, but the maximum locking period is 2 years. The distribution of veSCOMP follows a linear model very similar to that of Curve Finance: one SCOMP token locked for 2 years produces 1 veSCOMP. A user cannot do multiple locks. He can only extend the period of the first lock or increase the number of tokens that are part of it. As the number of blocked SCOMPs increases and the lock period increases, the quality of staker benefits and rights increases at the same time.