veANGLE stands for "voting-escrowed" ANGLE, and is the governance token of the Angle Protocol.
It is a vesting and yield system based off of Curve’s veCRV and Frax's veFXS mechanisms. The key property of veANGLE, beyond being a governance token, is that it is non-transferable and it does not trade on liquid markets.
🧾 veANGLE Features
veANGLE can be obtained by locking ANGLE from 1 week to up to 4 years. A smaller balance of veANGLE is obtained when locking for a shorter time. veANGLE balances decrease linearly with time to reflect the reduction in lock-time, approaching 0 veANGLE when lock time is about to end and ANGLE locked to be released.
As mentionned above, veANGLE is the token used for voting for governance proposals and ANGLE emissions through gauge weights in the Angle protocol. As such, veANGLE holders are shaping the future of the protocol.
Votes for governance proposals happen on Snapshot, and are then executed by a multi-sig. This multi-sig is composed of a mix of core team members and external people, including public figures to increase accountability. For more details on the governance multisig, you can check this page.
Votes for gauge weights are however taking place on-chain. For more details on gauges, please refer to this page.
Beyond voting on governance proposals and gauge weights, veANGLE is useful in two main aspects: