Now, wield influence in the oil metaverse like an OPEC member, but with even more control!

💸 Stake Oil into VeOil

Join OpecDAO today by staking $Oil and receiving veOIL tokens in return, which come with voting rights. As a member, you'll have a say in determining the allocation of dynamic $Oil earnings across oil fields in different regions.

For every second that you stake $Oil, you'll earn 0.000003170979198376 veOIL. By staking for a full year, you can earn up to 100 times the amount of veOIL. Additionally, the protocol will randomly set bonus periods, providing opportunities for users to earn even more veOIL.

Please be aware that if you withdraw your $Oil, it will reset the bonus period, and any veOIL in your wallet will be burned.

🗳️ Have a Say in Earning Distribution

Each oil field's output consists of 20% Fixed Output and 80% Variable Output. For example, from the initial 512 $Oil per block, 102 $Oil represents Fixed Output, while the remaining 410 $Oil accounts for Variable Output.

The allocation of output among oil fields in different regions varies significantly. For Fixed Output, the allocation ratio is set at 1:2:4 for Europe, North America, and the Middle East, respectively.

For Variable Output, the initial allocation is based on the total sales of oil fields at the conclusion of the presale period. For instance, if the total sold reserves of oil fields during the presale for Europe, North America, and the Middle East are 50,000, 70,000, and 80,000, respectively, the output allocation for Variable Output will be 5:7:8 for the three regions.

When you stake your $Oil for veOIL, you gain voting rights that enable you to influence the distribution of Variable Output across oil fields in various regions. The allocation ratio will be calculated based on the number of votes each region receives, with each member having an equal say in the decision-making process.

To ensure the allocation ratio remains relevant and responsive to the latest market conditions, voting results will be tallied weekly.

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