> For the complete documentation index, see [llms.txt](https://woofswap.gitbook.io/woofswap/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://woofswap.gitbook.io/woofswap/tokens/usdvewoof.md).

# $veWOOF

### `veWOOF` **Utility**

Trading Fee & Bribe Revenue

* As ve(3,3) mode DEX, veWOOF holders can participate in the protocol's governance and earn rewards by voting for gauges on a weekly basis. 
* They will have access to 100% of the trading fees and 100% of the bribes for the associated pool. 

Governance

* veWOOF holders can partake in governance and cast votes for the protocol improvement proposals, thus contributing to the protocol's growth and development.

### `veWOOF` **Specifications**

* *ve(3,3) Mechanics*: The Olympus DAO anti-dilution method, commonly known as the rebase mechanism, is combined with Curve's vote-escrowed model in the Solidly-initiated ve(3,3) concept. The anti-dilution level for veWOOF has been capped at 30% to safeguard the holdings of veWOOF holders and enable a dynamic distribution of veWOOF among participants over time.
* *Gauge:* A pool with dynamic $WOOF rewards based on veWOOF weekly voting allocation. Negative voting is not allowed.
* *Bribes*: Custom amount of tokens paid by a third party on a gauge to veWOOF holders in exchange for their votes.
* *Max Lock*: 2 year.
* *Farming Boost*: This feature has not been included to prevent the emergence of profit-maximizing protocols on top of WoofSwap. Instead, dynamic and decentralized governance over $WOOF emissions is fostered over time.
* *Flexibility*: `veWOOF` positions can be merged, split, and sold on the secondary market.

### Voting

* To participate in WoofSwap's voting system, it's important to be aware of epochs. Each epoch lasts for 7 days, after which the bribes and trading fees are distributed. 
* `veWOOF` holders only earn bribes and trading fees of the gauges (pools) you have voted for. 
* Trading fees and bribes can be claimed as a lump sum after an epoch has ended. 
* In order to be eligible for the fees and bribes, you must vote weekly. (WoofSwap is building a voting optimizer to help you automatically cast your votes. Stay tuned.)
* You have the flexibility to change or reset your vote at any time. 
* If you forget to vote, the weight of your vote will remain, but you will lose the bribes and trading fees.