Balancer Community Proposed Launch of veBAL, Allowing Users to Lock BPT to Get veBAL

TokenInsight news, Community members of the decentralized exchange Balancer Labs recently launched a proposal to introduce veBAL token economics by referencing the design of the mechanism by which CRV is locked into veCRV. The 80/20 BAL/ETH pool's BPT (liquidity tokens of the Balancer pool) will be locked into veBAL, and anyone can lock the 80/20 BAL/ETH pool's BPT for a period of 1 week to 1 year to receive the corresponding veBAL. The veBAL can vote on the share of the reward for each liquidity pool. In addition, 75% of protocol revenues will be distributed to veBAL holders. The other 25% of the fees will be kept by the DAO treasury as a reserve.