<aside> 👉 Are you an AAVE/stkAAVE tokenholder who wants to participate in Butter's delegation campaign? Learn here how to use Vault Delegation to be eligible to claim a Butter NFT
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Vault Delegation involves locking your AAVE or stkAAVE tokens in an Enzyme vault during the 3-month delegate campaign.
Use the Butter x Aave Vault [AAVE] vault to deposit AAVE tokens::
Use the Butter x Aave Vault [stkAAVE] vault to deposit stkAAVE tokens:
These vaults are configured to automatically delegate to the election winner.
This can be verified using Boardroom or Tally. You can look up who is delegating to the winning delegatee on the following profiles:
Using Vault Delegation helps Butter test one of its key assumptions, as vaults will be a key part of the protocol.
Therefore, tokenholders who participate in Vault Delegation for the full 3 months of the Delegate Campaign will be eligible to claim a Butter NFT.
<aside> ☝ As a reminder, the Delegate Campaign runs from April 17, 2023 to July 17, 2023
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Enzyme vaults are permissionless vaults that allow any AAVE/stkAAVE tokenholder to deposit and withdraw tokens. The fund manager (Butter) has some powers over the locked funds under strict conditions.
To guarantee that nothing can happen to your funds, the strictest policies are defined on both vaults: no trades, no external positions, 0 defi protocols allowed. These policies are on-chain and can be verified at the following links::
For further information about Enzyme policies, please refer to the Enzyme documentation.
To guarantee no surprises, we enabled a locking period of 0 hours. That is, you can withdraw your tokens whenever you like!
<aside> 🚫 The Butter team has 0 rights to manipulate funds in the vaults, and this is enforced on-chain. Plus, you can withdraw at any time
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Again, our goal is to learn how to improve our protocol, not produce any kind of returns on these tokens.
As a last note, Enzyme is a well-respected DeFi protocol with more than $75m TVL and thoroughly audited.