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veMFD is the Vote Escrow MFD which can only be rewarded by staking MFD. veMFD is a non-liquid and non-transferable token which will be used to participant DAO governance and distribution. The longer the staking MFD, the more veMFD will receive. The initial staking rules are as following:
The staking period of MFD is ranged from 1 day to maximum 1095 days. The veMFD reward volume is also linearly relate to the staking period. For example, users who stake 1 MFD for 1095 days will receive 3 veMFD while stake 1 MFD for 1 day will receive around 3/1095=0.00274 veMFD.
The number of veMFD will linearly decrease automatically every day. For example, if user staked 1 MFD for 1095 days, the veMFD balance will be 3 in the first day and will be around 3*1094/1095=2.9973 in the second day and so on. By the end of the 1095th day, the veMFD balance will be zero. To pause the gradually decreasing process, uses can click button to automatically renew the staking period so that the veMFD balance will stay at the current volume until it has been un-renewed manually.
In addition, it is possible for users to extend their staking period from the shorter period to the longer one (i.e. extend staking period from 180 days to 1095 days). Also, it is possible add more MFD in the same staking batch to get more veMFD. For example, if a user staked 1 MFD for 3 year, the veMFD balance is 3. After 3 days, this user decides to add 2 more MFD to stake for 3 years and renew the previous 1 MFD’s staking period to 1095 days. Then the user will have (1+2)*3=9 veMFD balance. Please note that it is impossible to do those two operations reversely to either short the staking period nor to decrease the staking MFD volume.