> For the complete documentation index, see [llms.txt](https://yaka.gitbook.io/yaka-finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://yaka.gitbook.io/yaka-finance/tokenomics/yaka-and-veyaka.md).

# YAKA & veYAKA

### Overview

Yaka Finance uses two tokens to manage its utility and governance:

* `$YAKA` — Utility token of the protocol
* `$veYAKA` — Governance token in the form of an NFT (non-fungible token)

`$YAKA` is distributed to liquidity providers through emissions.

`$veYAKA` is used for governance. Any `$YAKA` holder can vote-escrow their tokens and receive a `$veYAKA` (also known as Lock or veNFT) in exchange. Additional tokens can be added to the `$veYAKA` NFT at any time.

The lock period can be up to 2 years, following the linear relationship shown below:

* 100 `$YAKA` locked for 2 years will become 100 `$veYAKA`
* 100 `$YAKA` locked for 6 months will become 25 `$veYAKA`

The longer the vesting time, the higher the voting power (voting weight).

<figure><img src="https://35526943-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FlrPJhhw5DlgeeqWMz0oA%2Fuploads%2FwjO1tLe7JqaGYOOdLz8O%2Fdesmos-graph%20(1).png?alt=media&amp;token=6180f0cd-d551-467f-8a31-c89553e2ab30" alt="" width="563"><figcaption><p>veYAKA / Locked YAKA</p></figcaption></figure>

### `$veYAKA` **Utility**

* Protocol revenue access: `$veYAKA` holders can vote for gauges on a weekly basis, and access 100% of the trading fees and the bribes for the associated pool.&#x20;
* Governance participation: `$veYAKA` holders can partake in governance and cast votes for the protocol improvement proposals.

`$veYAKA` voters receive:

* Trading fees generated by the pool(s) they vote for
* Bribes deposited for the pools they vote for
* Weekly veYAKA distribution (rebase)

### `$veYAKA` **Specifications**

* *ve(3,3) Mechanics*: The Olympus DAO anti-dilution method, commonly known as the rebase mechanism, is combined with Curve's *vote-escrowed* model in the Solidly-initiated ve(3,3) Mechanics concept.&#x20;
* *Gauge:* A pool with dynamic `$veYAKA` rewards based on `$veYAKA` weekly voting allocation. No negative voting.
* *Bribes*: Custom amount of tokens paid by a third party on a gauge to `$veYAKA` holders in exchange for their votes.&#x20;
* *Max Lock*: 2 years.

### Voting

For voting, you need to be aware of epochs. Each epoch lasts for 7 days, after which the bribes and trading fees are distributed. You earn only from the gauges (pools) you have voted for.

* Trading fees and bribes are claimable as a lump sum after the next Epoch has ended (n+2)
* You have to vote weekly in order to be eligible for the fees and bribes
* You can change or reset your vote at any time