Vote Locked: Flat Voting Power
What is Vote Locked?
Vote locked is a staking mechanism where tokens are deposited to receive voting power without time-based decay. Unlike voting escrow where voting power decreases over time, vote locked systems provide constant 1:1 voting power for the duration of the stake.
Key Concepts
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Flat Voting Power: Each staked token provides exactly one unit of voting power. There is no decay over time, making voting power predictable and easy to understand.
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No Lock Duration: Unlike voting escrow, vote lockers do not require committing tokens for a specific duration. Users can request to exit at any time.
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Unstake Queue: Instead of waiting for a lock to expire, users request unstake and wait through a queue period (e.g., 8 weeks) before withdrawing. This provides protocol stability while offering flexibility.
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Cancellable Exit: Pending unstake requests can typically be cancelled to restore voting power immediately, unlike voting escrow where extending a lock is the only option.
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Checkpoint-Based Rewards: Fee distribution uses checkpoints to track balances at epoch boundaries, enabling straightforward reward calculations without decay math.
Comparison with Voting Escrow
| Aspect | Vote Locked | Voting Escrow |
|---|---|---|
| Voting power | Flat (1:1 with staked amount) | Decays linearly over lock duration |
| Lock duration | None required | 1 week to 4 years |
| Exit mechanism | Unstake queue (e.g., 8 weeks) | Wait for lock expiry |
| Extending position | Not applicable | Extend lock duration |
| Boost delegation | Flat delegation with expiry | Decaying delegation |
Benefits
- Predictability: Your voting power equals your staked tokens, always
- Flexibility: Exit anytime via the unstake queue
- Simplicity: No decay calculations or relock pressure
- Fairness: All stakers receive equal voting power per token
Application in Stake DAO
Stake DAO implements the vote locked model through vlSDT, which replaced the veSDT voting escrow system. vlSDT provides:
- 1:1 voting power with staked SDT
- 8-week unstake queue for flexible exit
- Epoch-based fee distribution (Thursday 00:00 UTC)
- Boost for sdToken voting power via BoostRegistry (coming soon)
See the vlSDT documentation for implementation details.