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Mint and Release of veRABBIT
As a significant strategy, Rabbit Finance has updated Boardroom and released veRABBIT, activiating lock-up incentive plan. Investors can mint RABBIT into veRABBIT with different lock-up time to participate in Boardroom reward pools to magnify gains. More functions such as community governance and poll depending on veRABBIT will be added to Boardroom section gradually.

1. Mint and Release

The Boardroom will launch veRABBIT and lock up function. Lock RABBIT up to get veRABBIT, which is lock-up time weighted equity token of RABBIT.
Rewards such as CARROT, RABBIT and other tokens will be distributed to the Boardroom reward pools according to veRABBIT staking proportion.
Rabbit Finance will launch the DAO governance plan, and veRABBIT will be supported for protocol governance and receive governance rewards.

How to mint veRABBIT

RABBIT holders can choose to lock up in short-term (7 days, 14 days), medium-term (30 days, 90 days, 180 days), and long-term (365 days). The longer the lock-up time user select, the more veRABBIT obtained, and the higher the farming yield from the reward pool. The range has been set: the minimum period is 7 days, the maximum period is 365 days, and the maximum multiple is 8x. The formula of how many veRABBIT can RABBIT staking user get:
veRABBIT amount obtained = RABBIT staked * [Multiple 1x + Staking period selected N Days * (Max. Multiple 8x - Multiple 1x) / Max. Staking Period 365 Days]

How to release RABBIT

veRABBIT holder can release it to RABBIT at a ratio of 1:1 after the stake period expires. The more reinvestment (staking) times and the longer the lock-up time, the more veRABBIT the user will get. The held veRABBIT will receive corresponding income and voting rights.

2. Boardroom Reward Pools

We will continue to add various reward pools to encourage RABBIT staking and veRABBIT holders. Boardroo reward pools allocate rewards according to the proportion of veRABBIT in the corresponding pool.
For more information, click đŸ‘‡

3. About veRABBIT

Intro

veRABBIT is the lock-up time weighted equity token of RABBIT, which will also be used for community governance and poll functions later.

Description of veRabbit’s Unlimited Inflation Incentive Mechanism

Many do not understand why mint 100 RABBIT will get 113 veRABBIT in 7 days, while releasing only requires 100 veRABBIT. Here is the explanation the goal of this mechanism:
a, Provide sustainable incentives to every user who has been minted
Every minted user has contributed to Rabbit Finance because their asset has been locked up for at least 7 days. After users choose to release to RABBIT at a ratio of 1:1, some veRABBIT will be left, and users can use these veRABBIT to enjoy the rewards obtained by the Boardroom for good.
b, It can continuously increase the motivation for users to mint
Users who choose to lock for 7 days can continue to increase their veRABBIT by mint after release. If you don’t do so, your reward ratio will be diluted by users who continue minting.
c, Users who choose to lock their asset for a longer time will always get higher rewards than users who lock their asset shorter.
After calculation, those who choose to lock their positions every 7 days, the reward of cyclical lock is still not as high as users who directly lock their positions for 90–365 days. This rule is fair, and the loyal users will be rewarded more.
Last modified 11d ago