veNFTs
Non-Fungible Receipts are tokenised ownership receipts of your veNFT when it is deposited into a managing vault.
They allow users to have their veNFTs being used as collateral in active loans and still control the main functions of it by utilising not the asset itself, but the ownership over the vault where it is stored in our ecosystem.
This facilitates batch interactions and seamless transactions across contracts. Depositing your veNFT in a vault is essential to access all functionalities offered by Debita.
The user with the manager role retains the power over all main functions of the veNFT, such as voting power, rewards claiming, and lock extensions.
The manager role is granted to the user who deposits a veNFT into the vault and cannot be changed by anyone but the holder of that unique NFR.
When a veNFT is sold or defaulted on a loan, the new owner of the NFR needs to claim their manager role.
To use your veToken on Debita for management or loans, follow these steps:
Deposit your veNFT: Secure your veToken into our vaults and receive your NFR.
This serves as your entry point into the Debita ecosystem, facilitating seamless transitions between contracts and enabling scalable governance of veTokens.
Utilize on Debita: Once your veNFT is secured in a vault, you can proceed to use it within the Debita ecosystem to borrow against it, list it for sale, start an auction or simply manage it.
Setting up veNFTs for locking
Resetting + Merging Resetting veNFTs is considered a voting event. Therefore, it's important to note that it cannot be reset if it's already been voted with in the current epoch. This is to maintain the fairness of the voting system.
For the same reason, it will not be able to be voted with after being reset, so it must be merged into a freshly locked veNFT to retain voting power and not lose an epoch's worth of voting rewards.
When merging, you transfer the voting power from one veNFT to another while inheriting the longest lock time of the two.
The locked amount can be as small as you want, but it needs to be shorter or equal to the lock length of your original position if you want to keep the lock period the same.
To reset and merge your veNFT on:
Go to the "Lock" tab, on their menu, select "Manage" on your veNFT, go over to the "Reset" tab and reset it.
Go back to the main "Lock" tab, click on "Create Lock" and lock a small amount of $EQUAL for the shortest period possible (you can choose on the calendar by clicking on the date).
Remember to check for pending rewards before the next step or they will be lost.
Back at the main "Lock" tab, click "Manage" on the NEW veNFT, go to the "Merge" tab and merge the reset one into it.
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