👨‍⚖️Voting

The Voting Process

1. Locking PRFCT Tokens into vePRFCT NFTs: To engage in the voting process, users commence by securely storing their PRFCT (ERC-20) tokens within vePRFCT (ERC-721) Non-Fungible Tokens. This locking period offers flexibility, ranging from a minimum of 1 week to a maximum of 4 years. This strategic commitment not only safeguards the tokens but also signifies the voter's dedicated involvement in the PerfectSwap ecosystem.

2. Selection of Target Liquidity Pools: With PRFCT tokens securely locked into vePRFCT NFTs, voters progress by thoughtfully casting their votes for specific liquidity pools. These pools encompass a wide array of options, including well-known pairs like USDC-WETH, alongside other available pairs offered on the PerfectSwap platform. By actively participating in the selection of these pools, voters wield influence over the distribution of rewards within the ecosystem.

3. Exclusive Rewards Claiming: A hallmark feature of the voting process on PerfectSwap is the exclusive collection of rewards. These rewards, namely voter incentives and trading fees, are obtained solely from the pools that voters have thoughtfully endorsed through their votes. This unique approach ensures that voters receive direct compensation for their pivotal roles in both governance and liquidity provision.

Insight into Voting Rewards

Voter Incentives:

Central to the rewards ecosystem are voter incentives, which are pre-deposited into the ecosystem prior to each epoch's commencement. Voters who have selected pools that include these voter incentives are entitled to claim their share of these rewards in a pro-rata fashion. Essentially, the greater the number of PRFCT tokens a voter has locked and the larger their sphere of influence, the more substantial their allocation of voter incentives. Notably, this distribution of incentives takes place immediately after the epoch transition, which consistently occurs on Thursdays at 00:00:00am UTC.

Accumulating Trading Fees:

While voter incentives are allocated upfront, trading fees accumulate in real-time as users actively engage in trading on the PerfectSwap platform. These fees commence their accumulation from the moment trading activities commence. However, it's important to underline that these fees are not immediately claimable. Instead, they become eligible for claiming as they accumulate over time. For optimal efficiency in managing gas costs, voters are encouraged to contemplate the claiming of trading fees once a substantial amount has accrued, thereby minimizing the cost associated with the claiming process.

The PerfectSwap voting process is a comprehensive series of actions, spanning from securely locking PRFCT tokens to making strategic choices in voting for specific liquidity pools. The ultimate motivation behind this active participation is the exclusive access to voter incentives and trading fees. This innovative system guarantees that participants within the PerfectSwap ecosystem receive direct rewards for their valuable contributions, thus inherently aligning their interests with the platform's progress and prosperity.