# veBBT
### What is veBBT
veBBT is BlueBit platform's governance token that enable holders to be eligible for a range of benefits and participate in governance. veBBT can be obtained by locking BBT.
### **Utility**
There will be three main utilities for BBT token, all require veBBT:
* 50% platform fee rebate weekly
* up to 2.5x boosting on BlueBit vaults liquidity mining incentives
* voting rights (coming soon)
* potential treasury bonus and airdrops
### **How exactly is veBBT calculated?**
Currently, BBT can be locked for up to 1 year. The number of veBBT you receive depends on the time you lock your BBT for. The minimum locking time is 1 week, and for every BBT locked, veBBT increases linearly from 0 to 1 as you increase your locking time from 0 to 1 year.
1 BBT locked for 3 months = 0.25 veBBT.
1 BBT locked for 6 months = 0.5 veBBT.
1 BBT locked for 9 months = 0.75 veBBT.
1 BBT locked for 12 months = 1 veBBT.
Without increasing the locking time or the number of BBT, **your veBBT decreases linearly as the end date of the locking period approach.** When your lock period expires, you can choose to either extend lock duration, or withdraw your BBT.
### What is included in the weekly rebate pool?
The weekly rebate pool contains 50% of all protocol income during the week, in the form of wNEAR and $BBT equally.
### How do I participate in the weekly rebates?
Lock BBT and you will be automatically enrolled in rebate.
Detailed rules:
On **Week 0, Thurday 00:00 UTC**, BlueBit registers individuals' and the total amount of veBBT enrolled for rebate. The recorded veBBT will be eligible for the following week's fee rebate.
On **Week 1, Thurday 00:00 UTC**, BlueBit sums up the 50% total fees accumulated throughout the week and divides proportionally amongst the recorded veBBT enrolled. The fee rebate will be claimable thereafter.
For example:
On Week 0, before Thursday 00:00 UTC: Alice enrolls 100 veBBT whilst the total rebate pool is 10,000.
Between Week 0, Thursday 00:00 UTC to Week 1, Thurs 00:00 UTC: If BlueBit collected 10000 USDT as fees for the week, the rebate allocated to Alice would be (100/10000)\*10000\*50% = 50 USDT. Alice can claim $25 worth wNEAR and the other half in BBT any time **post Week 1**, Thursday 00:00 UTC.
**Note: Any new veBBT gained during the week (Week 0, Thurs 14:00 UTC to Week 1, Thurs 00:00 UTC) can be enrolled but will only receive rebates post Week 2, Thurs 00:00 UTC**
### How is the boost factor calculated?
You can use the *boost factor calculator* to calculate your boost factor. Input the pool type, your deposited LP amount, your veBBT amount, you will get a calculated result of your boost factor as well as how many extra veBBT you need to reach a 2.5x max boost.
Your boost factor in a given pool will be affected by 1) Pool liquidity 2) Your deposited LP amount 3) your veBBT share. For More math, please check below:
### Maths
#### the amount of veBBT
The BBT token（let amount be N） can be locked for a selectable locktime t\_l, where t\_l < t\_max, and t\_max = 1 year. After locking, the time left to unlock is t ≤ t\_l. The amount of veBBT token(n) is :
$$
n = N · (t / t\_max)
$$
**Boost factor calculation**
Your boost factor depend on your veBBT share, total liquidity of the pool, your deposited liquidity in the pool.
$$
Boost Factor=min(2.5, 1+1.5*YourveBBTShare*TotalLiquidity/DepositedLiquidity))
$$
*Note: This algorithm is designed according to the CURVE boosting algorithm.*
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