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Lock up OMM

Learn how to lock up Omm Tokens to receive voting power.

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.

The Voting Power section, showing Boosted OMM and delegation information.

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.
You cannot withdraw locked OMM until the unlock date

Unless voted in by governance, you can't reduce the lockup time or lock OMM for multiple time frames. Any additional OMM you lock will use the same unlock date.

OMM -> bOMM conversion rate

The amount of bOMM you hold depends on how long your OMM is locked up for. Here’s the conversion rate for every 1 OMM locked:

Lock-up periodbOMM received
1 week0.0048
1 month0.0208333
3 months0.0625
6 months0.125
1 year0.25
2 years0.5
4 years1

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.

Withdraw OMM

When the lockup period ends, you’ll need to withdraw your unlocked OMM before you can lock any up again.

Go to the Vote page and click Withdraw OMM from the Voting Power section.