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Lock ANGLE and get veANGLE with the Angle App
ANGLE holders can lock their tokens between 1 week and 4 years to obtain veANGLE, granting them voting power in our governance system, boost on rewards for some staking contracts, and a share of the interest generated by the protocol.
Before locking ANGLE, make sure you read all the details about veANGLE and locking here. Remember that the veANGLE tokens you'll get are non-transferable (you won't be able to sell it) and that you will not be able to get back your ANGLE tokens during the period for which you have locked them.
If you are new to DeFi, you may also want to check out this onboarding guide. Most important thing to have in mind is that to get veANGLE, you need ANGLE in your wallet as well as ETH to pay for the Ethereum network transaction fees.
ANGLE locking screen
To create a lock, head over to the bottom right corner of the screen. There, an expiration date and quantity of tokens need to be specified.
The more ANGLE you lock and the longer you lock them, the bigger your veANGLE balance will be, and hence the bigger your influence in the Angle protocol.
Then, two transactions are needed:
- 1.First transaction is to approve the contract. This transaction is needed to allow the veANGLE contract to use your ANGLE tokens.
- 2.Second transaction is to create the lock with the specified amount of tokens and the desired duration.
After executing this, you'll be owning veANGLE tokens. Your veANGLE balance will decrease over time to go to 0 when your lock is expired.
You will only be able to create a lock with your address once. Once an address initiates a lock, it can only increase the lock expiration, or add tokens to the lock.
Once your lock has been created, to extend the lock expiration or add tokens, just click on one of the two buttons and choose a new expiration date (up to 4 years from now) or a quantity of tokens to add.
One particularity of the gauge system is that the staking contracts can’t fetch the veANGLE balance of stakers in real time. Therefore, this information needs to be updated once in a while by the staking contracts. This happens at checkpoints, when users stake, unstake, or claim rewards from the gauge.
In practice, this means that it’s better to lock ANGLE into veANGLE (or increase/extending your lock) before staking in order for the boost to be applied directly. If not, claiming a tiny amount of rewards after staking will be needed to apply the boost.
Once your lock is expired, to get your ANGLE tokens back from the lock, you need to execute a transaction. This can be done by clicking on the
Withdraw ANGLEbutton that'll be visible at this time on the lock page of the app.
Every week, a share of the interest generated by the protocol may be redistributed to veANGLE holders. These interests are currently being distributed in the form of sanUSDC tokens (LP tokens from Angle Core Module). They can always be redeemed for USDC from the protocol.
These interests can be claimed with a transaction initiated by clicking on the
Claim Interestbutton on the bottom right corner of the above screenshot.