How to become a governor?
Collect the majority of votes or 51% of VRP tokens.
What is the governor responsible for?
The list of responsibilities goes as follow:
To set markup and transaction fees
To manage yield distribution
To whitelist currency pairs, bridges, and liquidity providers
To freeze deposits and withdrawals the platform in the extreme case of an emergency shutdown.
What is VRP?
VRP means Volatility Reserves Pool. It allows users to vote for a governor and receive yield. You can get VRP tokens by swapping them with WJXN.
Is the governor rewarded?
Yes, the governor also receives yield, which can’t be higher than 10% from the total amount of yield collected.
Is it safe to stake VRP?
VRP holders are at risk as they provide WJXN to refill collateral during times of undercollateralization and they make a profit when there is overcollateralization.
Can I swap VRP for other cryptocurrencies?
You can swap VRP back to WJXN anytime, provided the collateral provisions denominated in WJXN cover more than 100% of WJAX reserves.