In order to vote, you must lock your PEN tokens for a fixed time period (a minimum of 16 weeks). Locked tokens will be inaccessible until 16 full epochs have passed.
- If you lock immediately before a new epoch starts, your PEN will be locked approximately 16 weeks.
- If you lock in the middle of an existing epoch, your PEN will be locked for 16 weeks + the time between your lock and the next epoch start.
PEN tokens are automatically unlocked after 16 full epochs have passed.
Vote-locked PEN tokens accrue rewards. Locked PEN tokens are automatically staked, earning a share of the 5% fee allocated to vlPEN.