Lock

$KYO-$veKYO Model

$KYO can be obtained as a reward for providing liquidity or through direct swaps. However, $KYO itself does not grant governance rights or utility within the protocol. To participate in Kyo Finance’s governance, users must lock their $KYO into $veKYO.

By converting $KYO into $veKYO, users gain access to governance participation, including voting on gauge allocations and protocol decisions. This mechanism ensures that only committed participants have influence over the protocol’s direction while incentivizing long-term engagement. Even though converting itself is an irreversible process, it gives flexibility of liquidation paradoxically. Read more about how it makes your voting life much easier here.

Fair Fungible Vote Token

Converting $KYO to $veKYO

You can convert $KYO into $veKYO at any time via the ‘veKYO’ tab or the ‘Swap’ tab. The conversion rate depends on the $KYO/$veKYO pool's liquidity ratio, ensuring you always receive a rate of 1:1 or better for each $KYO. If a more favorable rate is available, the system automatically selects the optimal route for conversion.

Liquidating $veKYO

You can liquidate your $veKYO back into $KYO or other assets using the ‘Swap’ function. The liquidity ratio in the $KYO/$veKYO pool determines the rate, and this process can be executed instantly without any lock-up period. This flexibility allows users to manage their assets dynamically as needed.