veSGT
veSGT is locked or vote-escrowed SGT-ETH SLP tokens
SLP tokens are received for providing liquidity on sushiswap.com
Get SLP here
veSGT is generated by locking the SLP tokens on the vote escrow UI on sharedtools.org
Lock here
Note: We may be deprecating the current Sushi SLP based locking mechanism
The first ideation of veSGT
Benefits of holding veSGT
Vote on governance proposals and token emissions
Receive revenue share from staked ETH fees
Why we use SGT-ETH LP for veSGT ?
We chose SGT-LP for the creation of the governance token for a few reasons.
When protocols look to partner and expose borrow limits on CDPs e.g. Rari fuse, they often largely look at the liquidity. Enabling large borrow limits helps drive more use case for the SGT token
Counting SGT LP allows high conviction investors to increase their invested amount by matching it with ETH, buying into the protocol at the market price. This brings external investors and team/early users on a more equal footing and supports decentralization
veSGT is set to be unlockable early with a penalty transferred to the DAO. By having ETH as part of the token it allows us to diversify the DAO treasury and capture profits from below market staked ETH
Vote escrowed SGT LP has some of the same benefits of OHM style protocol owned liquidity as there's a guarantee of liquidity that won't be filled
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