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Sweep Power (Vote Locking)
Sweep Power is used to vote in FloorDAO governance. It is generated by locking FLOOR tokens with a maximum lock time of 2 years and a minimum lock time of 1 month. The longer the lock, the more Sweep Power (SP) is generated per FLOOR. At the max lock time of 2 years, 1 FLOOR = 1 SP.
Early Exit Penalties
Users are able to unlock their FLOOR at any time after an initial 1 month minimum lock period, however early exits incur a penalty paid in FLOOR which is sent to the DAO. The amount paid follows the same curve as above where the penalty reduces from 100% to 0% over the 2 year duration.
The DAO takes a fee whenever a user exits their lock early
Last modified 5mo ago