veCRONA stands for voting escrow CRONA. They represent your CRONA tokens that are locked for voting. The longer you lock your CRONA tokens, the more voting power you have, and you will get a higher boost (mining rewards).
Every 1 CRONA locked for four years is equal to 1 veCRONA.
You can vote lock 1,000 CRONA for a year to have a 250 veCRONA weight.
The number of veCRONA you will receive depends on how long you lock your CRONA for.
Minimum lock time is one week.
Maximum lock time is four years.
Your veCRONA weight gradually decreases as your escrowed tokens approach their lock expiry.
User holding veCRONA get boosted farming rewards.
Farmers that hold veCRONA can receive a max boost of up to 2.5x(Locked 4 years) in farming rewards. For example, a farmer, with no veCRONA, could farm CRO-CRONA for 100% APR. Whereas a farmer with sufficient veCRONA to achieve max boost could farm CRO-CRONA for 250% APR.
The farm boost is determined by the following equations: