Gauge & veCSM Checkpoint Relationship

Time-weighted voting. Vote-locked tokens in VotingEscrow

Unlike voting with token amount
, CashmereDAO tokens are lockable in a
for a selectable lock time
, where
= 4 years. After locking, the time left to unlock is
tt1t≤ t_1
. The voting weight is equal to:
Weight function of veCSM
In other words, voting is weighted by both quantity and time, where the time that counts is how long the tokens will not be able to be moved in the future.
Voting escrow CSM (veCSM), inspired by voting escrow CRV (veCRV), and adopted by Curve Finance. veCSM is not transferable or tradable.
Return the time-weighted voting weight
and the sum of all of those weights
W=wiW= ∑w_i
respectively. This is typical governance token.
Weight-Time graphic
Users may lock CSM tokens and also extend the time with increased lock function or increased amount. Withdrawal can remove tokens from the escrow when the lock has expired.
User voting power
is linearly decreasing until lock time expires. The total voting power is
. For the optimization, system abstain periodic check-ins, every time the user movement are recorded and checked such as deposits, withdrawals, or changes lock time. This way, the total voting power changes with each check-in, with feedback from each user. However, system limit the end of user locks to times rounded by whole weeks.
Every time when you deposit/claim/withdraw from Liquidity pools, your veCSM amount are recorded as checkpoints in the gauge contract.
This means if you don't claim any rewards from LP Pools, your last veCSM checkpoint will not decrease on gauge contract and your boosted APR will stay higher.
If you have veCSMs and your boosted rewards have not started although you staked your stablecoin liquidity to Gauge, claim your accumulated rewards from the gauge contract and provide checkpoint, your boosted rewards will be activated.
Your boost will not be updated until you withdraw, deposit or claim from a liquidity gauge.