veSHN Token
veSHN is the new non-transferable governance token of ShineDAO. Its vesting and yield system is based on Curve’s veCRV mechanism.
SHN holders can now lock their SHN for a maximum of 4 years and get benefits proportional to their lock time. veSHN decays slowly over the locking period, eventually reaching 1-1 with locked SHN, at which time the users can redeem the veSHN back for SHN. Users can also get additional veSHN by locking more SHN or extending the lock period.
1 $SHN + 4-year lock = 4 $veSHN, decaying to 1 $SHN
It should be noted that each account can only have a uniform lock time: A single address cannot lock certain SHN tokens for 2 years then another set of SHN tokens for 4 years etc.
veSHN is launched on the Polygon Network. Users with SHN on Ethereum Mainnet should bridge their SHN to Polygon Network. All required steps are described in this article:
Shine bridge to Matic is live!
Medium

Why Max. Lock SHN?

1. Discounted SEED Access

veSHN acts as an access token for SEED. Users can get up to 75% discount on the SEED access with a 4-year lock.

2. Boosted SHN Yield

veSHN holders are eligible for sustainable SHN yield coming from buybacks (SEED fees + treasury yield). The individual distribution weight of the amount locked depends on the lock duration. Users get up to 4x weight with a 4-year lock.

3. Boosted Project Token Distribution

veSHN holders are eligible for vested token distributions from SWAP. The individual distribution weight of the amount locked depends on the lock duration. Users get up to 4x weight with a 4-year lock.
This feature is currently in development.

4. Higher Governance Power

Each veSHN has 1 vote in governance proposals. Staking SHN for the maximum time (4 years) generates 4 veSHN and up to 4x voting weight on your SHN.
Find more about governance: