Vote Escrow Weights

When you stake nuMint, you vote for a vault and begin accumulating veMint at a rate such that after 1 year, 1 nuMint staked would result in 1 veMint. veMint can always be redeemed to reclaim the amount of staked nuMint. veMint cannot be transferred between wallets and claiming USDC or changing your vote resets veMint of the user back to 0.

veMint is calculated for each individual based on all their staked nuMint, this is used for voting on vetos. The amount of veMint that is allocated to each vault is also tracked to determine how to proportionally allocate USDC in the treasury that is being converted to yield bearing assets. The more veMint a vault has, the more capital that will flow into it.

Proposals on Nuon last for 1 epoch (7 days) and require reaching a quorum of 2% of total veMint to pass.Voting weight is determined by the total veMint a user has. A minimum veto bounty of 1000 USDC is required to start a proposal. If a proposal is vetoed, then the bounty is distributed proportionally to those who vetoed it. If a proposal for a vault is accepted, the proposer reclaims the bounty.

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