Vote Escrowed Thrust (veTHRUST)

Overview

The purpose of veTHRUST is to enable long-term aligned holders to govern and benefit from the success of the Thruster protocol.

Benefits to veTHRUST holders include:

• Receiving protocol fees generated by Thruster

• Receiving an emissions boost on the liquidity they provide on Thruster

• The ability to decide on THRUST emission allocations on Thruster pools

• The ability to propose and vote on protocol decisions

Staking THRUST on Thruster

Stake your THRUST tokens to enjoy the benefits of veTHRUST.

1. Connect Wallet: Connect your wallet to the Thruster interface in the top right-hand corner.

2. Navigate to Stake: Click "Stake" in the navigation bar, then select the "Stake" tab.

3. Enter Stake Amount: Input the amount of THRUST you wish to lock. If you need more THRUST, you can swap other tokens for it on Thruster.

4. Set Stake Duration: Choose your preferred staking duration. The minimum is 1 week, and the maximum is either 51 or 52 weeks depending on the current date. The interface displays estimated APRs for different durations—longer stakes yield higher APRs.

5. Review Transaction: Check the transaction overview, including APR, your updated total veTHRUST balance, total stake time, and unstake date.

6. Approve Token Spending (if needed): For first-time THRUST traders on Thruster, you may need to approve token spending.

7. Confirm Transaction: Click “Stake” to proceed with the transaction.

8. Wait for Confirmation: Allow a few seconds for the transaction to be confirmed on the Blast blockchain.

9. Transaction Complete: Once confirmed, your THRUST will be staked as instructed, and you'll receive veTHRUST in exchange.

10. View Transaction: You can see the transaction details on the Blast blockchain explorer by clicking "View transaction".

11. Done!: Congratulations! You've successfully staked THRUST on Thruster and are now eligible for veTHRUST benefits. Check your veTHRUST balance on the Dashboard page.

Unstaking THRUST on Thruster

Once your unstake date is reached, you can unstake your THRUST tokens.

1. Navigate to Dashboard Page: Click "Stake" in the navigation bar, then click the "Dashboard" tab. In the My Staking section, click the “Unstake” button.

2. Confirm Transaction: Click “Unstake” to proceed with the transaction.

3. Wait for Confirmation: Allow a few seconds for the transaction to be confirmed on the Blast blockchain.

4. Transaction Complete: Once confirmed, your THRUST will be retrieved as instructed, and you'll have THRUST back in your wallet.

5. View Transaction: You can see the transaction details on the Blast blockchain explorer by clicking "View transaction".

6. Done!: You've successfully unstaked THRUST.

How to Obtain veTHRUST

veTHRUST, or vote-escrowed THRUST, cannot be transferred and can only be acquired by staking THRUST tokens in Thruster’s voting escrow contract. The longer the stake, the more veTHRUST the user receives. The exact formula is as below:

$$veTHRUST Balance = THRUST*Length of Lock / (Max Lock = 1 \ year)$$

Examples of veTHRUST received as per stake time are:

• 1 THRUST staked for 1 years = 1 veTHRUST

• 1 THRUST staked for 0.25 year = 0.25 veTHRUST

Stakers who align themselves to Thruster for longer receive a bigger percentage of the benefits from Thruster’s ecosystem.

Staking was a concept created to align incentives for governance. Many coin voting systems have a problem where someone can buy tokens off the market to influence a governance vote, then sell the tokens after the vote passed/failed. These users can influence governance votes greatly and only take minimal risk by holding tokens for a few days. Staking stops this happening. Users must stake their tokens for a period of time to receive voting power, and users are rewarded with more voting power if they stake their tokens for a longer period of time.

Protocol Fees

Protocol fees generated by Thruster are sent pro-rata to veTHRUST holders.

If 50% of circulating THRUST is staked as veTHRUST, 100% of the stipulated protocol fees would go to that 50%. Longer stakers would get more of these fees with their higher veTHRUST balance.

Boosting Rewards

One of the primary incentives for staking is the boost mechanism. Users who provide liquidity to a swap pool and/or lending market with a reward gauge and have some vote-staked THRUST receive boosted THRUST rewards.

Governance

• The veTHRUST balance represents the voting power of a user in the Thruster DAO, which allows them to vote on on-chain proposals.

• Additionally, a crucial part of Thrust governance are gauge weight votes. Curve token emissions are created in a way that allows veTHRUST holders to choose how future emissions are allocated. Liquidity pools on Thurster can be added to the GaugeController via a successfully passed DAO vote, making them eligible to receive THRUST token emissions. The gauge weights determine how much THRUST each pool receives. Every Thursday at 00:00 UTC, the updated gauge weights are applied.

Staking Information

When a user stakes their THRUST tokens for voting, they will receive veTHRUST based on the stake duration and the amount staked. Staking is not reversible and veTHRUST tokens are non-transferable. If a user decides to stake their THRUST tokens, they will only be able to reclaim the THRUST tokens after the stake duration has ended.

Additionally, a user cannot have multiple stakes with different expiry dates. However, a stake can be extended, or additional THRUST can be added to it at any time.

veTHRUST decay

The amount of veTHRUST a user has will decay over time as their unstake date draws closer. The stakeTime parameter in the equation above should more aptly be called stakeTimeLeft as a user's veTHRUST is constantly recalculated. There are two ways a user can change their stake. They can add to their stake or they can extend their stake.

FAQ

• What is vote locking and how do I get veTHRUST?

  • THRUST holders can vote lock their THRUST to receive veTHRUST. The longer you lock for, the more veTHRUST you receive. Vote locking allows you to vote in governance, boost your THRUST rewards, and receive trading fees

• Can I transfer veTHRUST?

  • veTHRUST cannot be transferred

• Do veTHRUST holders receive a portion of the protocol fees?

  • 100% of all native yield and trading fees earned by the Thruster protocol are distributed to veTHRUST holders

• Will voters determine how much THRUST emissions go to each pool?

  • veTHRUST voters will determine the amount of THRUST emissions going to gauge listed pools.

• Why is my veTHRUST balance decreasing?

  • veTHRUST balances are based on remaining lock time. As remaining lock time decreases, veTHRUST balances decrease as well.

• How do I extend my veTHRUST lock?

  • THRUST locks can be extended on the lock page. Extending your THRUST locks will increase your veTHRUST balance according to the multiplier

• Is veTHRUST voting on-chain and will I have to pay gas fees?

  • Yes, all gauge votes are on-chain and will require a small amount of gas. However, since Thruster governance is conducted on Blast, a L2, the gas fees required will be minimal.

• Is it possible to delegate veTHRUST votes?

  • No, it is not possible to delegate your votes to another address.

• How can I add a (new) pool to the gauge voting process?

  • Proposals may be discussed and submitted to the foundation