vePEP

Vote-escrow PEP (vePEP) is PepperDEX’s governance token used for voting for governance proposals.

Community members will be able to participate in the PepperDAO governance with an account that has a balance of vote-escrowed PEP (vePEP).

For more on the PepperDAO governance process, click here.

How do you get vePEP?

In addition to staking rewards, PEP stakers will also receive vePEP to participate in the governance of the protocol. The longer a user locks PEP in the staking contract, the more vePEP they receive. However, vePEP balances decay throughout the staking period.

PepperDEX employs time-weighted voting power to ensure long-term PEP token holders receive greater governance weight to align token holders with the long-term growth, development, and sustainability of PeppeerDEX.

Utility of vePEP

Governance voting: Vote on governance proposals such as listing new assets, changing protocol parameters, and approving budgets.