veTRUF stands for vote-escrowed TRUF — a special form of TRUF token that represents your voting power within the Truflation ecosystem. When you stake your TRUF tokens, you receive veTRUF tokens in return, which unlock governance rights and other benefits.
How veTRUF Works
- Staking TRUF to Earn veTRUF:
When you lock (stake) your TRUF tokens for a specific duration, you receive veTRUF tokens proportional to both the amount of TRUF staked and the length of your staking period.
- Governance Power:
- Protocol upgrades
- Data stream validations
- Parameter changes
veTRUF tokens give you voting rights in Truflation’s decentralized governance. This means you can participate in key decisions such as:
Your influence grows with the amount of veTRUF you hold.
- Time-Weighted Voting:
The longer you lock your TRUF tokens, the more veTRUF you earn, and thus, the stronger your voting power. This mechanism incentivizes long-term commitment to the ecosystem.
- Non-Transferable:
veTRUF tokens are non-transferable and tied to your staked TRUF, meaning you cannot trade or sell veTRUF independently.
Benefits of Holding veTRUF
- Direct say in governance: Influence the future of the Truflation protocol.
- Align incentives: Voting power aligns with long-term commitment and contribution.
- Eligibility for other ecosystem perks: Access exclusive staking rewards, participate in the Truflation Stream Network (TSN), and help detect data manipulation or fraud.
How to Acquire veTRUF
- Stake TRUF Tokens: Lock your TRUF tokens in the Governance Portal.
- Choose Lock Duration: Select how long you want to stake (the longer, the better your veTRUF allocation).
- Earn veTRUF: Automatically receive veTRUF tokens proportional to your stake and duration.
- Participate: Use your veTRUF to vote on governance proposals and more.
For more details and to start staking: