Locking CXD for vlCXD
How to Lock CXD for vlCXD
Head over to the lock section of Cortexdao.io.
Enter the desired amount of CXD you’d like to lock (MAX for your entire CXD balance).
Enter the desired duration of lock.
Click lock and accept the transaction via MetaMask.
Congratulations, you will now have locked your CXD, and have earned vlCXD.
If you already have an existing lock, you can either increase the lock amount or duration. It is not possible to have multiple locks for various durations, in a single wallet.
Note: vlCXD is not an ERC-20 tradeable token. You will not be able to trade it (buy, sell, or transfer) until you have unlocked it, after the lock period you have chosen has expired.
Calculating Converted vlCXD Amount
The vlCXD amount you earn is proportional to the AMOUNT of CXD you lock, and the DURATION it is locked for.
CXD can be locked for a maximum of 4 years, in weekly increments. Each additional week you add to your selected lock duration increases the amount of vlCXD you will receive.
To estimate how much vlCXD you would earn for
CXD LOCK AMOUNT * (X/208) = vlCXD AMOUNT
Where:
CXD LOCK AMOUNT is the amount of CXD you are choosing to lock.
X is the duration (in weeks) you are choosing to lock for.
I.E. Let's assume we are locking 500 CXD for 12 weeks.
500 * (12/208) = 125 vlCXD
NOTE: a user's vlCXD amount will consistently dwindle each week as the initial lock duration decreases. If a user initially lock for 12 weeks, only 11 weeks will be used to calculate your current vlCXD amount a week later. In order to maintain the same vlCXD amount, a user will need to regularly extend the duration of their lock.
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