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 we have made. 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.
You can get ANGLE tokens by buying them from any other crypto-asset on this page of our app.
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:
First transaction is to approve the contract. This transaction is needed to allow the veANGLE contract to use your ANGLE tokens.
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.
Increasing the lock or adding tokens
Once the 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.
Locking ANGLE before staking
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, clamining a tiny amount of rewards after staking will be needed to apply the boost.
To compute the balance of veANGLE needed to get the max boost on rewards depending on the quantity of tokens staked, there is a calculator at app.angle.money.
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 ANGLE button 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 is redistributed with veANGLE holders. These interest are currently being distributed in the form of sanUSDC_EUR tokens, earning yield from the protocol. They can always be redeemed for USDC from the protocol.
These interest can be claimed with a transaction initiated by clicking on the Claim Interest button on the bottom right corner of the above screnshot. Users also have the options to Claim and Stake, and Claim and Mint agEUR
Claim interest and Stake
This claims the sanUSDC_EUR and stake them directly in the associated gauge in the same transaction to start earning ANGLE rewards. You can check you staked sanUSDC_EUR in the App Earn page.
Claim interest and Mint agEUR
This claims the sanUSDC_EUR and uses them to mint agEUR in the protocol. You will end up receiving agEUR in your wallet. The fees and minimum amount of agEUR received are displayed in the Show mint info toggle.