veAPW

Locked APW, where 've' stands for "vote-escrowed," allows holders to influence the parameters and evolution of the Spectra protocol through an on-chain voting process.

veAPW Utility

Voting on Governance proposals
Entitlement to 3rd party incentives for helping govern how APW emissions are distributed
Entitlement to protocol earnings (set to 0% during the protocol's bootstrapping phase) and emissions (subject to governance decisions)

How to obtain veAPW?

veAPW can be obtained by locking APW from 1 week to up to 2 years via Spectra's App Governance page. The obtained veAPW balance is proportional to the number of weeks locked.

veAPW is non-transferable by design.

Each wallet can only have one veAPW lock duration. This means a single address cannot lock certain veAPW tokens for different periods, such as 2 months, and another set for 3 years. All veAPW tokens per wallet must have the same lock time.

veAPW is available at the following address 0xC5ca1EBF6e912E49A6a70Bb0385Ea065061a4F09

Rewards Boost

By locking APW in the Voting Escrow contract (veAPW), you can boost your rewards. The boost mechanism allows you to enhance the rewards you earn based on the amount of veAPW you hold.

Minimum Boost: Achieved when you have no veAPW.
Maximum Boost: Achieved when you have locked enough veAPW. See below for details on how to get the maximum boost.

When Is the Boost Applied?

The boost is applied automatically—there’s nothing you need to do manually.

Liquidity Movements: Each time liquidity is added or removed from a pool, we snapshot the balance of veAPW 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 the liquidity you provide to pools. If you have sufficient voting weight (veAPW), you can boost the earning weight of your liquidity by up to 2.5x.

Example: If you have a boost of 2.5x and deposit $10,000 of value into a pool, your rewards will be calculated as if you have $25,000 of value in the pool.

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 veAPW you hold (vote weight).
$V$ : The total veAPW in the system (total vote weight).

How to Obtain the Maximum Boost

To achieve the maximum boost of 2.5x, your share of veAPW voting power must be at least equal to your share of LP tokens in the pool.

Example:
- If you own 30% of the LP tokens in a pool, you need to hold at least 30% of the total supply of veAPW.
- This means your veAPW balance should be 30% of the total supply of veAPW.

In Other Words

Your veAPW holdings should be proportional to your liquidity share in the pool to maximize your boost.

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Last updated 1 month ago

Rewards Boost

By locking APW in the Voting Escrow contract (veAPW), you can boost your rewards. The boost mechanism allows you to enhance the rewards you earn based on the amount of veAPW you hold.

Minimum Boost: Achieved when you have no veAPW.

Maximum Boost: Achieved when you have locked enough veAPW. See below for details on how to get the maximum boost.

When Is the Boost Applied?

The boost is applied automatically—there’s nothing you need to do manually.

Liquidity Movements: Each time liquidity is added or removed from a pool, we snapshot the balance of veAPW 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?

Example: If you have a boost of 2.5x and deposit $10,000 of value into a pool, your rewards will be calculated as if you have $25,000 of value in the pool.

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 veAPW you hold (vote weight).

$V$ : The total veAPW in the system (total vote weight).

How to Obtain the Maximum Boost

To achieve the maximum boost of 2.5x, your share of veAPW voting power must be at least equal to your share of LP tokens in the pool.

Example:

If you own 30% of the LP tokens in a pool, you need to hold at least 30% of the total supply of veAPW.
This means your veAPW balance should be 30% of the total supply of veAPW.

In Other Words

Your veAPW holdings should be proportional to your liquidity share in the pool to maximize your boost.