vFHE Explanation
Last updated
Last updated
vFHE is an ERC-20 token on Mind Chain that represents voting rights within the Mind Network, enabling participation in governance to ensure consensus and data security for AI and Proof-of-Stake (PoS) networks. vFHE can be obtained by holding the relevant restaked assets or participating in Mind Network restaking.
You can obtain vFHE tokens in two ways:
Mind Partnered Restaking Protocols No need for locking or cross-chain activity. Simply hold the partner's LST (Liquid Staked Tokens) or LRT (Liquid Restaked Tokens) assets in your wallet. The Mind Network will reward vFHE to the corresponding address on Mind Chain based on the quantity and duration of the held assets. To redeem your vFHE tokens, visit dapp.Mindnetwork.xyz/dashboard and simply clicking the redeem button on the dashboard, your vFHE tokens will be redeemed to your wallet.
Example: Holding 1 pufETH in wallet will earn you 2 vFHE tokens, which can be used for subsequent voting.
Mind Network Restaking Pools Participate directly by staking your LST/LRT assets on the Mind Network. For each asset staked, you will receive 10x vFHE boost to your assets staked.
Example: Staking 1 pufETH on the Mind Network will earn you 20 vFHE tokens to use in future voting.
vFHE = Amount of Tokens × Hours × Token Adjustment Factor × Partner Boost
Token Adjustment Factor = (LST/LRT price) / (ETH price)
For Previous Mind XP Holders:
Your Mind XP will automatically convert to vFHE at a 1:1 ratio. You can redeem these tokens on the Dashboard.
The assets you’ve staked in Mind will continue earning vFHE for you.
(Coming soon)
Users can participate in Partner Networks on the Mind Network to earn additional vFHE rewards. There are two main ways to participate:
Delegation Users can delegate their owned vFHE to voters on Partner Networks. As voters participate in Partner Network voting rounds, the delegators earn vFHE rewards.
Reward Multiplier: Up to 5x vFHE rewards through delegation.
Voting on Partner Networks Users can directly vote on Partner Networks, either manually or through automated systems, to earn more vFHE rewards. Partner Networks are categorized into auto-vote and manual-vote Partner Networks:
Auto-Vote Partner Networks: Users must register a voter using a Pass provided by node operators. Once registered, the system will automatically cast votes on behalf of the user, enabling continuous rewards.
Manual-Vote Partner Networks: Users with a wallet can cast their votes directly on the Partner Network page without the need for voter registration.
Reward Multiplier: Up to 10x vFHE rewards through direct voting.
By holding vFHE, users can access multiple benefits within the Mind Network, including:
Mind Network Airdrops: Users may receive airdrops of tokens directly from the Mind Network as a reward for participation.
Partner Network Consensus Verification Rewards: By participating in Partner Network consensus, users can receive rewards in the form of Partner Network airdrops.
Original Staking Rewards: Users continue to receive rewards from the original LST/LRT asset projects while holding their vFHE tokens.
