🔒Locking HND for mveHND
The process for locking HND to receive mveHND on Hundred Finance
Introduction
One of the main uses of HND/mveHND is the ability to boost an account's reward APR up to 2.5x when staking stablecoins. Locking HND also grants users voting weight that can be assigned to stablecoin gauges to increase their HND emissions, further increasing APRs. The number of mveHND a user possesses relative to their share of the liquidity in the staking contract they are using is what determines their boost, while the distribution of the vote weight to particular gauges determines which assets receive what proportion of weekly HND emissions on any given chain.
Balances and Epochs
Above the user interface, the vote page includes some useful user and network data.
The first entry on the left of the panel above refers to the global price of the HND token, while the next two entries list the HND and mveHND tokens associated with the connected wallet that the Hundred Finance deployment on connected chain can see (where mveHND is held on other chains, mirroring, to be discussed later, can increase this figure). Following these, total mveHND depicts the number of mveHND currently in existence, while Total HND locked shows the total number of HND used (locked) to generate them.
The countdown for the end of the epoch on the right tracks the week-long period during which vote weight can be applied to gauges in order to increase their HND emissions during the epoch that follows. At the beginning of each epoch, each gauge's relative vote weight is recorded and used to determine what portion of the total HND rewards being emitted are sent where.
The charts that lie below the first panel of the UI show the current distribution of HND rewards across gauges, as well as the distribution that will follow in the next epoch (assuming no changes in votes occurs). Any vote submitted that occurs prior to the first block of the next epoch will be counted, adding an element of gamification through allowing users to time their votes.
Generate mveHND
If you have never generated mveHND on the chain to which you are connected, the first interactive panel, Generate mveHND, will allow you to do so. If you possess a HND balance, it can be locked by inputting the amount in the Balance field, setting a Lock until date and sending the lock transaction.
HND tokens can be staked for a period of time up to four years, during which they are locked within the protocol at the contract level (early unlocks are not possible). Locking HND in the vote-escrow contract results in the account receiving the non-transferable mveHND token in return, with the amount received a product of both the number of HND staked and the length of the stake. 100 HND locked for 4 years will generate approximately 100 mveHND, 100 HND locked for 2 years will generate 50 mveHND, 100 HND for 1 year equals 25 mveHND, and so on.
An account's mveHND balance will decrease over time, eventually reaching zero. Once an account's veHND balance has reached zero, it indicates that its staked HND are now unlocked and can be withdrawn.
If the connected account has previously generated mveHND, then the Generate mveHND panel will be replaced by a Lock additional HND panel. This interface allows further mveHND to be generated according to the previously set lock duration (each account can have only one mveHND balance with a single lock duration).
Note: The vote-escrow contracts do not allow for HND to be locked in tranches. Furthermore, an account can only have a single unlock date, the point of which all of their previously locked HND will again become available.
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