Get Boosted OMM (bOMM)
Learn how to lock up OMM to boost your earning potential and hold voting power.
After you obtain Omm Tokens (OMM), you can lock them up for a set time period to earn even more OMM. Locked OMM gives you Boosted OMM (bOMM) – non-transferable tokens that increase your OMM rewards and give you voting power.
To lock up OMM:
- 1.Go to Rewards > Boosted OMM, or Vote > Overview, 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 earning potential and voting power will increase to reflect the value of bOMM.
- 3.Click Confirm and complete the transaction.
After the transaction has been confirmed, you’ll be prompted to apply your boost so you can earn more OMM from markets and liquidity pools. If you choose ‘Not now’, claim OMM rewards at any time to recalculate your boost and apply it to every activity.
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.
The value shown under ‘Market rewards’ and ‘Liquidity rewards’ is your boost. It’s the difference between your interest rate and the market rate for each activity, and ranges from 0.4x to 2.5x.
The amount of bOMM required to maximise your OMM rewards depends on the size of your position compared to everyone else’s, and the amount of bOMM held by other users. While not shown in the UI, this value is known as the multiplier, and ranges from 1x-2.5x.
For each market and liquidity pool:
- If no one has bOMM, everyone gets a 1x boost
- If everyone except you holds enough bOMM for a 2.5x multiplier, your boost is diluted to 0.4x
- If you set a 2.5x multiplier and no one else does, you get a 2.5x boost
- If everyone sets a 2.5x multiplier, everyone gets 1x boost
When the lockup period ends, you’ll need to claim your unlocked OMM before you can lock any up again.
Go to the Rewards or Vote page and click ‘Withdraw OMM’ from the Boosted OMM or Vote Overview section.