veFRAX

veFRAX is the staked version of FRAX (prev. FXS) the Commodity Asset of the entire Frax universe. veFRAX has various utility and votes in all governance decisions throughout the Frax ecosystem of protocols. Users stake their FRAX tokens for a self-selected period of between 1 week to 208 weeks (4 years). A user’s veFRAX balance is non-transferrable (it is not a separate token) and is linearly correlated with the amount of FRAX they staked multiplied by their lock time. For every 1 FRAX token staked for 4 years, a user’s veFRAX balance goes up by 4. A user’s veFRAX balance decays slowly as a user’s unlock time approaches.