ve(3,3) Governance Model
GIWATER Mechanics
The key to ensuring the sustainability of a DEX is “how to align the interests of liquidity providers and governance participants.” GIWATER solves this problem by introducing the ve(3,3) governance model.
What is ve(3,3)?
ve(3,3) is a governance framework that merges the Vote-Escrowed (ve) economic model with game theory to achieve a seamless alignment of interests between long-term stakeholders and the protocol. By voluntarily locking tokens, participants strengthen the ecosystem’s overall liquidity and are granted revenue-sharing rights proportional to their strategic commitment.
In the ve(3,3) model, every participant benefits most when they choose to lock. The longer you lock and the more actively you engage with governance, the greater your rewards — creating a self-reinforcing cycle that benefits the entire ecosystem.
GIWATER’s ve(3,3) Flow
We look at how $TER holders gain veTER governance rights and receive reward distributions.
Relationship between Lock Period and veTER Quantity
The veTER quantity is directly proportional to the amount of $TER locked and the remaining lock period.
veTER = Quantity of locked $TER × (Remaining lock period / Max lock period of 4 years)
- 1,000 $TER locked for 4 years: Get 1,000 veTER
- 1,000 $TER locked for 2 years: Get 500 veTER
- 1,000 $TER locked for 1 year: Get 250 veTER
Your veTER voting power automatically decays each week as the remaining lock-up duration shortens.
While the underlying $TER tokens you locked remain fully preserved and constant, you must periodically
extend your lock-up period to the maximum to maintain consistent governance influence.
Epoch (Reward Cycle) Cycle
GIWATER’s reward settlement are strictly managed on the blockchain in units of 1 Epoch = 1 week.
Day 1~6: Voting Process
veTER holders exercise their voting rights on the liquidity pools they want to support or receive profits from. Voting weights can be changed at any time.
Day 7: Epoch End & Settlement Snapshot
- Final distribution ratio for this week’s emission tokens confirmed
- Snapshot of all swap fees generated
- Collection of Bribe (incentive) volumes from projects for the next Epoch
Day 8: Next Epoch Start & Distribution
- Liquidity Providers (LP) can begin claiming emission tokens
- veTER holders can begin claiming swap fees and incentives
- Voting Weight Reset: To continue receiving rewards, you must manually participate in voting every week or delegate to a Relay (Auto-Compounding Lock).