vePUFF
vePUFF is the governance token in Puffverse, which is primarily acquired by staking your $PFVS token. vePUFF may also be obtained as a reward by engaging with certain PuffGo games. Most importantly, vePUFF contributes to the governance of the Puffverse ecosystem as it allows holders to vote in the Puff DAO.
What’s vePUFF for?
Voting and governing powers in Puff DAO
Contributing to the ecosystem by staking
Ways to Get vePUFF
Lock $PFVS to get vePUFF by the ratio of 100:1
Join PuffGo games or contribute to the Puffverse ecosystem to win vePUFF
Special Attributes
vePUFF is non-transferable and non-tradable
vePUFF has lock-in periods in the form of orders and can be converted to $PFVS in the ratio of 100:1 after the lock-in period is over
vePUFF Order Book Mode
Choosing a lock-in period will grant users a vePUFF NFT, which is non-transferable, with each vePUFF NFT representing an order.
Each order will record your vePUFF amount, lock-in period, and Power in detail.
Each order will generate rewards in real-time, and users can withdraw the rewards earned at 12:00 AM (Midnight) UTC starting on the first Thursday after one (1) week of staking.
When the order reaches its lock-in period, users can initiate the transaction to unlock all the vePUFF and return the locked $PFVS. The order will then be burned.
If the lock-in period is not yet reached, users can still initiate the transaction to unlock the vePUFF. However, only a portion of the vePUFF will be deducted as a penalty.
The weekly $PFVS rewards for the current week will be distributed based on the snapshot taken last Thursday at 12:00 AM UTC, with the then Power included.
vePUFF Production
vePUFF is born with an order in the form of NFTs, which contains information as follows:
The amount of vePUFF
The lock-in Period
Power with a time-based linear decrease
Order Period
Whenever users lock $PFVS into vePUFF or set an order for the vePUFF earned from the game, users are able to select different lock-in periods to obtain Power. The longer the lock-in period, the greater the Power allocated. Once the lock-in period is over, users may redeem their vePUFF for $PFVS at any time at a specified rate. If the lock-in period is not over, users may still redeem their vePUFF for $PFVS, subject to a penalty.
All orders are set to be unlocked at 12:00 AM (Midnight) UTC, on Thursdays. There will be several lock-in periods for users to choose from:
1 Month (4 Weeks)
3 Months (12 Weeks)
6 Months (24 Weeks)
12 Months (48 Weeks)
24 Months (96 Weeks)
48 Months (192 Weeks)
Staking
As mentioned above, the $PFVS Token can be staked. As more and more users participate in the ecosystem, the Puffverse platform automatically rewards vePUFF holders for their contributions to the ecosystem. These rewards typically come in the form of $PFVS, and are dependent on the following:
Part of the trading fee from the token Swap (To be launched)
Part of the creator fee from the NFT Market
100% of the redemption fee from users unlocking their $PFVS Token before the lock-in period is over
20% of the income from PuffGo Pass sales
The Early Staking Rewards - offered by Puffverse
Part of the income from PuffSim
Part of the IAP income in USDC
Part of the IAP net profit in fiat
….
Early Staking Rewards Program
To reward early vePUFF holders, the Puffverse will launch the Early Staking Rewards program, which will allocate a certain amount of $PFVS per week to the vePUFF prize pool to be distributed amongst vePUFF holders for their contribution to the ecosystem. In the future, vePUFF holders will be able to decide the allocation of this bonus through Puff DAO voting.
Puff Genesis & Membership Certificate Boost-Up
When the lock-in period is selected, selecting Puff Genesis or Membership Certificate as boosts will grant a 130% or 100% Power bonus, respectively. During the lock-in period with Puff Genesis boost, this Puff Genesis NFT is not allowed to participate in games, and it can only be unlocked along with the order.
Penalty for Failing to Reach the Lock-In Period
Users can initiate the transaction to unlock even if the order hasn’t reached the lock-in period. However, when the lock-in period has not been reached, it allows only a portion of the vePUFF to be unlocked, with the rest deducted as the early unlock-in fee.
A penalty from 30% to 80% of the locked $PFVS with a deduction calculation formula as follows:
Penalty Loss = 80% - Locked Weeks / Required Lock-in Period * 50%
Power
Power represents the voting right within Puffverse. The protocol revenue of Puffverse will be distributed to vePUFF holders with a certain percentage, and the allocation ratio will be based on the holder Power as a proportion of the total Power.
Ways to Get Power
When generating vePUFF, users are required to select a specific lock-in period. The longer the lock-in period yields the greater the Power.
Special Attributes
Power will decrease linearly over time
The more Power you hold, the greater the rewards eligible
Each order will generate a corresponding amount of Power and vePUFF. Power is set to be reduced linearly over time with a Power calculation formula as follows:
Power = Slope * (The End of the Lock-in Period Timestamp - The Current Timestamp)
Slope = $PFVS / (4 * 365 * 86,400)
How to Create Your vePUFF Staking Order in PuffTown
Open your PuffTown App and enter the Wallet page.
Stake All Your vePUFF Rewards from PuffGo Matches to Create Your vePUFF Order
*You must stake all your vePUFF rewards from PuffGo matches at once!
Go to the Game Wallet page and click the ‘Lock & Earn’ button next to vePUFF.
*If you are a Puff Genesis or Membership Certificate holder, you can enjoy a 130% or 110% Power boost. Please refer to the details here.
Click the ‘Select’ button to choose either the Puff Genesis or Membership Certificate you want to use for boost-up. Note that your Puff Genesis cannot participate in the game during the lock-in period with the Puff Genesis boost.
After selection, click the ‘Next’ button to continue.
Then, choose your lock-in period and click the ‘Next’ button to move on.
Double confirm your locking amount, locking period, unlock date, and the information for the Puff Genesis or Membership Certificate used for boost-up.
If you are to make any revisions, click the ‘Previous’ button to return to the previous page.
Once you have confirmed that all details are accurate, click the ‘Confirm’ button to proceed.
Enter your 6-digit PuffTown password.
You have now locked your vePUFF in your Game Wallet successfully! You can check your vePUFF orders on the My Vault page of the Chain Wallet under vePUFF.
Stake $PFVS to Create Your vePUFF Order
Go to the Chain Wallet and click vePUFF to enter the vePUFF staking interface.
Click the ‘Lock Now’ button next to My $PFVS.
Enter the amount of $PFVS you want to lock, and then click the ‘Next’ button to proceed.
*1 vePUFF = 100 $PFVS
*If you are a Puff Genesis or Membership Certificate holder, you can enjoy a 130% or 110% Power boost up. Please refer to more details here.
Click the ‘Select’ button to choose either Puff Genesis or Membership Certificate you want to use for boost-up. Note that your Puff Genesis cannot participate in the game during the lock-in period with Puff Genesis boost.
After selection, click the ‘Next’ button to continue.
Then, choose your locking period and click the ‘Next’ button to move on.
Double confirm your locking amount, locking period, unlock date, and the information for the Puff Genesis or Membership Certificate used for boost-up.
If you are to make any revisions, click the ‘Previous’ button to return to the previous page.
Once you have confirmed that all details are accurate, click the ‘Confirm’ button to proceed.
Enter your 6-digit PuffTown password.
You can check your staking status by clicking ‘View in Explorer’ in the pop-up.
Click ‘OK’ to return to the vePUFF order interface.
You have now locked your vePUFF in your Game Wallet successfully! You can check your vePUFF orders on the My Vault page of the Chain Wallet under vePUFF.
How to Create Your vePUFF Order on the Puffverse Website
Visit the Puffverse official website here and connect your wallet address. Then, click the $PFVS button at the top of the interface.
Click the ‘Get vePUFF’ button to enter the Lock to Earn page.
Click the ‘Lock Now’ button to start creating your vePUFF order.
Enter the amount of $PFVS you want to lock.
*1 vePUFF = 100 $PFVS
*If you are a Puff Genesis or Membership Certificate holder, you can enjoy a 130% or 110% Power boost up. Please refer to more details here.
Click the ‘Select’ button to choose either Puff Genesis or Membership Certificate you want to use for boost-up. Note that your Puff Genesis cannot participate in the game during the lock-in period with Puff Genesis boost.
Then, choose your locking period.
After selection, you can view the specific unlock date for this order in the linear graph on the left.
Once you have confirmed that all details are accurate, click the ‘Lock Now’ button to create your vePUFF order.
You have locked your $PFVS to vePUFF successfully once you see the pop-up stating ‘Successfully Locked’. Your vePUFF orders can be viewed in My Vault.
How to Claim Your vePUFF Staking Rewards
You can claim your weekly $PFVS rewards after the reward settlement each Thursday or upon the completion of your order.
Please refer to details on the order period, weekly $PFVS reward sources, and more here.
Claim Rewards in PuffTown
Go to the Chain Wallet and click vePUFF to enter the vePUFF staking interface.
Locate the order for which you want to claim your rewards in My Vault and click the ‘Claim Reward’ button.
Enter your 6-digit PuffTown password.
You have now claimed your $PFVS rewards successfully. Your $PFVS balanced can be viewed in your Chain Wallet.
Claim Rewards on the Puffverse Website
Visit the Puffverse official website here and connect your wallet address. Then, click the $PFVS button at the top of the interface.
Click the ‘Get vePUFF’ button to enter the Lock to Earn page.
Locate the order for which you want to claim your rewards in My Vault and click the ‘Claim Reward’ button. Verify your wallet address and click ‘Confirm’ to continue.
You have now claimed your $PFVS rewards successfully.
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