VeLFT is the proof for LFT tokens. The longer the user locks LFT tokens, the more VeLFT tokens he gets. The locking procedure depends on a number of factors.
VeLFT tokens are not transferable.
VeLFT holders will share 50% of the loan interest of all pools on the platform. Also boost your LFT rewards up to 2.5x.
VeLFT holders have the right to create their own proposal and vote . For more details please see Lend Flare Dao.
VeLFT automatically boosts LFT earnings. If boosting is not shown, LFT can be taken first. LFT boosting depends on the total number of VeLFTs and the total current pool liquidity. The boosting formula is
Consequences on the circulating supply LFT tokens locked as veLFT tokens are not tradeable and virtually not in circulation, given that they have been immobilised to take advantages of the protocol future yields, boosts and gouvernance rights. Consequently, circulating supply decreases as more LFT tokens are locked into veLFT.