veAXIAL is the staked version of the AXIAL tokens used for boosting one's pool rewards. It is acquired by staking your AXIAL through our app.
The veAXIAL token is how you can boost your token rewards from providing liquidity in Axial's many stable-asset liquidity pools.
You can still earn token rewards from our liquidity pools without any veAXIAL, but by boosting your rewards you can greatly increase your returns!
Your share of pool rewards at any given time is determined by the following formula:
This means that if you don't have any veAXIAL tokens, you'll simply earn your share of pool rewards based on how much of the pool's LP tokens you have supplied on our rewards page.
If you do have veAXIAL, however, your share of the pool's rewards will increase based on how much of the veAXIAL supply your stake represents.
For example, if you are supplying 5% of a pool's liquidity, and have 10% of veAXIAL's supply, you will receive an effective rewards rate of 15%. You would be earning the same rate as someone supplying 15% of the pool's liquidity without any veAXIAL would!
Your veAXIAL balance is determined by how many AXIAL tokens you have staked, and for how long you've had them staked for. Every second that your AXIAL tokens are staked, you acquire 1 veAXIAL for every AXIAL token you have staked.
This means that if you stake 100 AXIAL tokens, you will gain 100 veAXIAL per second. Unstaking your AXIAL will mean resetting your veAXIAL balance to 0, but can be done at any time with no unstaking fees.