veSPECTRA

veSPECTRA

• Contract Address: 0x6a89228055C7C28430692E342F149f37462B478B
• Network: Base Network

Utility

veSPECTRA is a transferable NFT representing locked SPECTRA. Its current utilities include:

• Voting on Spectra Governance proposals
• A 4-year ve(3,3) locker model

Locks and protocol governance remain in place. Under SGP-20, weekly SPECTRA emissions and the rebase have been zero since 2 July 2026; gauge voting and the voting-incentives marketplace are paused. See current emissions.

SGP-19 redirected the pool swap fees previously distributed through the ve(3,3) path to the DAO treasury. veSPECTRA currently provides governance rights, with no direct pool swap-fee revenue or rebase for lockers.

How to obtain veSPECTRA?

veSPECTRA can be obtained by locking SPECTRA from 1 week to up to 4 years via Spectra's App.

SPECTRA holders can create multiple locks, allowing for more efficient governance participation.

ve(3,3) Rewards

The ve(3,3) model includes pool fee distribution, a weekly rebase, and voting incentives. Their current treatment is:

• Pool revenues: the model's 60% trading-fee share is routed to the DAO treasury under SGP-19.
• Weekly rebase: (veSPECTRA.totalSupply() / SPECTRA.totalSupply() )^3 * 0.5 * weekly emissions. With emissions at zero, the rebase is also zero.
• Third-party voting incentives relate to votes directing SPECTRA emissions to pools. Gauge voting and the voting-incentives marketplace are currently paused.

Rewards Boost

The SPECTRA emissions boost uses veSPECTRA balances to calculate the earning weight of LP positions. The boost does not create emissions: with SPECTRA emissions at zero, there are no SPECTRA emission rewards to boost. This mechanism does not boost pool swap fees, underlying yield, or third-party incentives.

• Minimum Boost: Applies when a holder has no veSPECTRA.
• Maximum Boost: Applies when a holder has locked enough veSPECTRA. See the maximum boost calculation below.

When Is the Boost Applied?

The boost calculation is applied automatically.

• Liquidity Movements: Each time liquidity is added or removed from a pool, the balance of veSPECTRA is snapshotted for all Liquidity Providers.
• Boost Duration: The boost remains the same until a new liquidity event occurs in the pool.

How Is the Boost Calculated?

The boost mechanism calculates the earning weight of liquidity provided to pools. With sufficient voting weight (veSPECTRA), a holder can boost that earning weight by up to 2.5x. This only affects the allocation of SPECTRA emission rewards when emissions are distributed.

Example:
A boost of 2.5x on a $10,000 deposit gives it the earning weight of $25,000 for SPECTRA emission rewards. With emissions at zero, both earning weights receive zero SPECTRA emission rewards.

Boost Calculation Formula

B = \min\left(2.5, \ 1.5 \times \frac{v}{V} \times \frac{D}{d}\right) + 1

with:

• B : the rewards boost (between 1 and 2.5).
• d : The value of your deposit in the pool (in USD).
• D: The total value deposited in the pool (in USD).
• v: The amount of veSPECTRA held (vote weight).
• V: The total veSPECTRA in the system (total vote weight).

How to Obtain the Maximum Boost

Achieving the maximum boost of 2.5x requires a share of veSPECTRA voting power at least equal to the holder's share of LP tokens in the pool.

• Example:
  • A holder with 30% of the LP tokens in a pool needs at least 30% of the total supply of veSPECTRA.

In Other Words

veSPECTRA holdings need to be proportional to the holder's liquidity share in the pool to maximize the emissions boost. This increases the earning weight without creating SPECTRA rewards while emissions are zero.