$L2X / $veL2X / $oL2X Token

L2X Pro incorporates three primary tokens to oversee its utility and governance:

$L2X — ERC-20 utility token of the protocol

Users can lock $oL2X token in a 1:1 ratio for veL2X token.

$oL2X — ERC-20 call option token of the protocol

$oL2X serves the pivotal role of rewarding liquidity providers through emissions. When you provide liquidity in gauges, you get $oL2X emissions, but you don't get swap fees. However, if you manage your own concentrated liquidity position, you do get the ALM's fee.

Designed as a option call token, $oL2X functions as the emission token for the L2X protocol. Users can choose to either convert the $oL2X to $L2X at a discount rate, or lock the $oL2X token in a 1:1 ratio for veL2X tokens (with a maximum locked limit).

$veL2X — ERC-721 governance token crafted as an NFT (non-fungible token)

$veL2X stands as the governance token. Any $L2X holder is empowered to vote-escrow their tokens, subsequently receiving veL2X (or veNFT) in return.

Use cases:

• Holders receive protocol fee from the gauge they voted for. Gauge is the pool designed to grant $L2X rewards based on veL2X's weekly voting disposition.

• Holders receive protocol bribes from builders/partners

• Farming Boost incorporated to amplify the emissions for veL2X holders participating as LPs.

• Max lock: 2 years