Lock up OMM
The Omm Token (OMM) is Omm's governance token. After you obtain some, you can lock it for up to 4 years to hold Boosted OMM (bOMM), a non-transferable token that gives you the ability to vote for ICON validators and participate in governance.
To lock up OMM:
- 1.Go to Vote > Voting Power, then click ‘Lock up OMM’.
- 2.Choose the amount of OMM to lock up and how long to lock it up for (from 1 week up to 4 years). Your ICX voting power will increase to reflect the value of bOMM.
- 3.Click Confirm and complete the transaction.
After you lock up OMM, you can’t reduce the lockup time or lock OMM for multiple time frames. Any additional OMM you choose to lock up will be locked for at least the same time period.
Lock-up period | bOMM received |
|---|---|
1 week | 0.0048 |
1 month | 0.0208333 |
3 months | 0.0625 |
6 months | 0.125 |
1 year | 0.25 |
2 years | 0.5 |
4 years | 1 |
As the lock-up time decreases, so will your bOMM. It decays linearly to 0 based on the amount of time remaining, so if you lock it up for 4 years, 1 bOMM will become 0.5 bOMM after 2 years.
When the lockup period ends, you’ll need to claim your unlocked OMM before you can lock any up again.
Go to the Vote page and click Withdraw OMM from the Voting Power section.