ISS and veISS Tokens

The ISSUAA Protocol Token (ISS) is the native token of the ISSUAA protocol. By locking the ISS, it can be used to mint veISS tokens, the governance and utility token of the ISSUAA protocol. It has three main use cases:
  1. 1.
    veISS tokens are the basis for the voting power of users which participate in the governance process. These votings include:
    1. 1.
      Votings if an asset has breached its upper limit and should be frozen ("Freeze Votes")
    2. 2.
      Votings on the price of an asset at time of expiry ("Expiry Votes")
    3. 3.
      Votings on grants for services by users, that support the success of the ISSUAA protocol ("ISSUAA DAO Grant Votes")
    4. 4.
      Voting if new assets are allowed to be created ("New ISSUAA Asset Proposal Vote")
    5. 5.
      Voting about ISSUAA protocol upgrades ("Upgrade Votes")
  2. 2.
    A trading commission of 0.05% is earned for the protocol on each trade on the internal ISSUAA market place, which is used to buy back the ISS token.
  3. 3.
    Voting rewards, paid out as liquid ISS tokens

How to mint veISS tokens

To mint veISS tokens, a user needs to voluntarily lock his ISS tokens. In general, the longer the ISS tokens are locked, the more veISS tokens will be minted.
The max locking period is 4 years. When ISS tokens are locked for 4 years, the ratio between ISS and veISS will be 1 to 1. The relationship between the remaining lock time and the ratio of ISS to veISS is linear. This means that if tokens are locked for 1 year (eg), the ratio between ISS and veISS will be 4 to 1. Also, as the lock becomes shorter over time, the amount of veISS tokens is gradually decreasing.
To increase the number of veISS tokens, the user can at any time increase the lock time or he number of tokens locked.
Once the lock time has expired, the user can redeem the full amount of locked ISS tokens.
This "voting escrow" concept, which has been made popular by Curve Finance, allows to give more voting power (and rewards) to those users, which believe in the long term success of the protocol and have thus considerably more "skin in the game" than a user who does not lock his ISS tokens.

Where can you trade the ISS token:

You can either trade the ISS token on the internal market on app.issuaa.org or on third party market places. Check where you get the better price.
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