Governance
This section details Cheese Game governance tokens.
Wrapped, staked Cheez (wsCHEEZ) is a token which does not rebase, but still earns the yield of the underlying sCheez. If you wrap sCheez, you receive a fixed amount of wsCHEEZ tokens. When the wsCHEEZ is unwrapped, you will receive your initial deposit of sCHEEZ, plus any sCHEEZ accrued via rebasing.
vCHEEZ is the governance token powering the Cheese Game Users can deposit wsCHEEZ to receive vCHEEZ, which grants them voting power over the protocol. This includes treasury funds, yield adjustments, bond price changes, and any other attribute of the protocol.
Since vCHEEZ is exchanged one to one with wsCHEEZ, users still accrue staking rewards when holding vCHEEZ.
Last modified 1yr ago