Vote Power Weighting

When you stake MaxCap, you vote for a vault and begin accumulating MaxCap rewards, which cannot be transferred between wallets. Claiming USDC or changing your vote resets the voting power of the user back to 0.

Voting power is calculated for each individual based on their share of the staked MaxCap and the locking time of their staked MaxCap. The lockup choices are 3 months, 6 months, 9 months, and 1 year, where 1 year- lockup equals 100% of voting power and 3 month lockup equals 25% of the voting power.

The amount of MaxCap 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 MaxCap a vault has, the more USCC capital will flow into it.

Proposals last for 1 epoch (7 days) and can be rejected via a veto of mib 2% of the total voting power. 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.