---
description: BlueBit's governance token
---

# 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. \


![](https://1471809851-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FlEfyugxpTPHVap8iJWet%2Fuploads%2FH67OKYMfXjwJUjlo0UGK%2Fimage.png?alt=media\&token=671a682a-c281-4fa8-99f2-509106b33f58)

**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? <a href="#how_is_boost_factor_caculated" id="how_is_boost_factor_caculated"></a>

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.&#x20;

![](https://1471809851-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FlEfyugxpTPHVap8iJWet%2Fuploads%2FXaGUamVo79p7FAN6xA2A%2Fimage.png?alt=media\&token=c57d3148-297b-41ef-97cf-f788c1f51c6c)

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._
