In order to vote on any proposal on Convex, you must lock your CVX tokens for a fixed time period(a minimum of 16 weeks). Locked tokens will be inaccessible until 16 full epochs have passed.
- If you lock immediately before a new epoch starts, your CVX will be locked approximately 16 weeks.
- If you lock in the middle of an existing epoch, your CVX will be locked for 16 weeks + the time between your lock and the next epoch start.
Locks are grouped into weekly "epochs" which start on Thursday at 00:00 UTC. Deposits during the current epoch do not count towards currently active vote weight. CVX must be locked in a completed epoch prior to a vote starting in order to participate.
CVX tokens are automatically unlocked after 16 full epochs have passed
- Unlocked tokens sitting in the locker contract have the option to Re-lock. Tokens locked in this manner will have vote weight allocated to the current epoch rather than the following epoch.
Other users may kick idle CVX out of the locker contract and take a 1% bounty per epoch past the 4-epoch grace period. Each separate lock is subject to it's own grace period.
- Example: 100 CVX tokens idle for 5 weeks may be kicked out of the locker contract, and the caller would get 1 CVX token. Original user is left with 99 CVX tokens.
- Example: 100 CVX tokens idle for 6 weeks may be kicked out of the locker contract, and the caller would get 2 CVX tokens. Original user is left with 98 CVX tokens.
Vote-locked CVX tokens accrue rewards. Locked CVX tokens are automatically staked, earning a share of the 5% fee allocated to CVX stakers. Additionally, vote-locked CVX earn an additional 1% fee on top of the normal staking rewards, as outlined in the Fees section.