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Frequently Asked Questions

Find answers to common questions about trading veNFTs on veX marketplace.

General Questions​

What is veX?​

veX is a non-custodial marketplace for trading vote-escrowed NFTs (veNFTs) and financial NFTs across multiple DeFi protocols. We support 8 protocols on Base, BNB Chain, Linea, and HyperEVM.

What is a veNFT?​

A veNFT (vote-escrowed NFT) is an NFT that represents locked governance tokens in a protocol. When you lock tokens like AERO, HYDX, or VELO, you receive a veNFT that grants voting power, fee earnings, and protocol rewards. veNFTs are tradable assets that represent locked positions.

What is vote-escrow (ve)?​

Vote-escrow is a tokenomics model where users lock tokens for a period to receive voting power and rewards. The longer you lock, the more voting power you get. veX allows you to trade these locked positions before they mature, creating instant liquidity.

Why would I trade a veNFT instead of just unlocking?​

Most veNFTs cannot be unlocked early - the tokens are locked until maturity. Trading on veX gives you instant liquidity without waiting weeks, months, or years for unlock. Sellers get immediate cash; buyers get discounted governance power.

Which protocols does veX support?​

veX supports:

  • Base: Aerodrome (veAERO), Hydrex (veHYDX)
  • BNB Chain: Thena (veTHE), Apebond (veABOND)
  • Linea: Lynex (veLYNX)
  • HyperEVM: Kittenswap (veKITTEN), Hybra (veHYBRA), Nest Exchange (veNEST)

View all supported protocols →

Is veX safe to use?​

Yes. veX is non-custodial - your veNFTs stay in your wallet while listed. We never hold your assets. All listings are verified on-chain. Smart contracts are audited. However, as with all DeFi, never invest more than you can afford to lose.

Do I need KYC to use veX?​

No. veX is a decentralized marketplace with no KYC requirements. Simply connect your wallet and start trading.

Listing veNFTs​

How do I list my veNFT on veX?​

  1. Connect your wallet to veX
  2. Navigate to "List NFT"
  3. Select the veNFT you want to list
  4. Set your price (fixed amount or discount %)
  5. Choose your preferred payment token (USDC, WETH, etc.)
  6. Approve veX contract (one-time)
  7. Confirm listing transaction

Step-by-step guide →

Does my veNFT leave my wallet when I list it?​

No! Your veNFT remains in your wallet while listed. This is veX's non-custodial design. You keep full ownership until a buyer purchases it.

Can I still vote and earn while my veNFT is listed?​

Yes! Since your veNFT stays in your wallet, you can vote on emissions, earn trading fees, collect bribes, and receive rebases — all rewards continue until the sale completes.

How much does it cost to list?​

Listing is free. You only pay gas fees (typically $0.10-$0.50 depending on network). Platform fees (1–2.5%) are only charged when your veNFT sells.

Can I cancel my listing?​

Yes! Delist anytime before a sale completes. No penalties, no fees - just gas costs for the delist transaction.

Can I change the price after listing?​

To change your price, you need to delist and relist at the new price. Both transactions are free (gas only).

What payment tokens can I accept?​

You can choose to receive payment in:

  • USDC (stablecoin)
  • WETH (wrapped ETH)
  • Protocol native token (AERO, HYDX, VELO, etc.)

Select your preference when creating the listing.

Should I list at a fixed price or discount percentage?​

Fixed price (USD): Simple, predictable. Good when you have a target dollar amount.

Discount percentage: Adjusts automatically with token price. If the underlying token price increases, your listing price increases too. Good for maintaining value relative to the locked tokens.

Most sellers use discount percentage (e.g., "30% discount to locked value").

What's a good discount to list at?​

Typical discounts by lock period:

  • Short (under 3 months): 10-20%
  • Medium (3-12 months): 20-35%
  • Long (1-4 years): 35-50%
  • Permanent: 50-70%

Check current market floor for your protocol. Price competitively to sell faster.

Buying veNFTs​

How do I buy a veNFT on veX?​

  1. Connect your wallet to veX
  2. Browse listings (filter by protocol, chain, discount, lock period)
  3. Select a veNFT you want to buy
  4. Review details (lock period, voting power, price)
  5. Click "Buy"
  6. Choose payment method (wallet token or Zap with any token)
  7. Confirm transaction
  8. Receive veNFT instantly

Buying guide →

Can I buy with any token?​

Yes! veX's Zap feature lets you purchase veNFTs with ANY token in your wallet. We automatically swap to the seller's requested payment token as part of the purchase transaction.

Example: Seller wants USDC, but you only have ETH → Zap converts your ETH to USDC and completes the purchase in one transaction.

Are there buyer fees?​

No! Buyers pay zero platform fees. You pay exactly the listed price plus normal gas costs. Only sellers pay the platform fee (1–2.5%).

How do I know a listing is legitimate?​

All veNFTs on veX are automatically verified on-chain — we check the protocol contract, confirm the NFT hasn't been merged or modified, validate the structure, and pull real-time blockchain data. If it's listed on veX, it's verified.

What should I look for when buying?​

Key factors:

  • Discount percentage - Is it good value vs locked token amount?
  • Lock period - When does it unlock? Are you comfortable with that timeline?
  • Voting power - How much governance power per dollar?
  • Unclaimed rebases - Extra value included with purchase
  • Protocol health - Is the protocol growing? Good yields?
  • Your strategy - Do you want to hold until unlock or resell?

Protocol guides →

What happens immediately after I buy?​

  1. veNFT transfers to your wallet
  2. You gain full voting rights
  3. You can start voting on emissions
  4. You begin earning fees, bribes, and rebases
  5. veNFT appears in your dashboard

You own it completely and can vote, earn, or resell.

Can I resell a veNFT I just bought?​

Yes! Once you own it, you can relist on veX anytime. Many traders buy discounted veNFTs, earn rewards for a period, then resell before unlock.

Pricing & Discounts​

Why are veNFTs discounted?​

veNFTs trade at discounts because:

  1. Locked tokens - Can't access until maturity
  2. Time value - Money now is worth more than money later
  3. Opportunity cost - Locked capital can't be used elsewhere
  4. Active management - Requires weekly voting for best returns
  5. Risk - Protocol, smart contract, and market risk

Discounts compensate buyers for these factors.

What is a "good" discount?​

Depends on lock period and protocol. General guidelines:

  • 10-15% discount - Short locks, low opportunity cost
  • 20-30% discount - Medium locks, fair compensation
  • 35-50% discount - Long locks, significant compensation
  • 50-70% discount - Permanent locks or very long periods

Compare to current market floor for the specific protocol.

How are discounts calculated?​

Discount % = (Locked Value - Sale Price) / Locked Value × 100

Example:

  • Locked value: $10,000 (in AERO at current price)
  • Sale price: $7,000
  • Discount: ($10,000 - $7,000) / $10,000 = 30%

The locked value fluctuates with token price, so discounts change even if sale price stays fixed.

What are unclaimed rebases and why do they matter?​

Rebases are weekly token distributions that maintain your voting power. If a veNFT has unclaimed rebases, those tokens transfer with the NFT when you buy it - adding extra value beyond the locked amount.

Example: veNFT shows 10,000 AERO locked, but has 500 AERO unclaimed rebase → You actually receive 10,500 AERO worth of value.

Always check for unclaimed rebases before buying!

Fees & Costs​

What fees does veX charge?​

  • Seller fee: 1–2.5% on successful sale (varies by protocol)
  • Buyer fee: 0%
  • Listing fee: Free (gas only)
  • Update fee: Free (gas only)
  • Delist fee: Free (gas only)

Full fee breakdown →

When are fees charged?​

Fees are only charged when a sale completes successfully. List, delist, and update as many times as you want - no fees until sale.

What are gas costs?​

Gas costs are blockchain transaction fees (not veX fees). Typical costs:

  • Base: $0.10–$0.75 per transaction
  • BNB Chain: $0.20–$1.50 per transaction
  • Linea: $0.10–$0.75 per transaction
  • HyperEVM: $0.05–$0.50 per transaction

Gas fluctuates with network congestion.

How do fees compare to competitors?​

PlatformSeller FeeBuyer Fee
veX1–2.5%0%
Vexy1%0%
HyperWarp1.5%0%
NFT markets2-5%0-2.5%

veX's dynamic fee stays competitive with or below alternatives while offering more protocols and chains.

Lock Periods & Unlocking​

Can I unlock my veNFT early?​

No. veNFTs cannot be unlocked before their maturity date - this is enforced by the protocol's smart contracts. The only way to exit early is to sell your veNFT on veX.

What is a permanent lock?​

A permanent lock means the tokens are locked forever - no unlock date. However:

  • Provides maximum voting power (equivalent to 4-year lock)
  • Highest rewards (fees, bribes, rebases)
  • Can always be sold on veX
  • Most liquid exit option remains veX marketplace

Many traders buy permanent locks for max yields, then resell when they want to exit.

What happens when my veNFT unlocks?​

At maturity:

  • You can unlock to receive the underlying tokens
  • Voting power drops to zero
  • Rewards stop
  • Tokens become liquid and transferable
  • You can re-lock if desired

Most traders either unlock or sell before maturity.

Can I extend the lock period?​

Some protocols allow extending locks. Check your specific protocol's documentation. On veX, you'd need to:

  1. Delist if listed
  2. Extend lock on the protocol's platform
  3. Relist on veX (if selling)

Security & Safety​

Is my veNFT safe while listed?​

Yes. Your veNFT stays in your wallet - veX never holds custody. You retain full control until the moment a buyer purchases it. You can delist anytime.

How does veX verify listings?​

We perform automatic on-chain verification:

  • Checks NFT is from verified protocol contract
  • Confirms NFT hasn't been merged or split
  • Validates structure matches protocol specification
  • Pulls real-time data from blockchain

Only verified NFTs appear in listings.

What if I accidentally merge a listed veNFT?​

Critical Warning

Never merge veNFTs while one is listed! If you merge a listed veNFT with another, the listing stays active at the original price but now includes the merged amount. You could accidentally sell much more than intended at a steep discount.

Always: Delist → Merge → Relist at correct price

Has veX been audited?​

veX smart contracts undergo regular security audits. However, as with all DeFi:

  • Smart contract risk exists
  • Protocol risk exists (underlying protocols)
  • Market risk exists
  • Never invest more than you can afford to lose

What if a transaction fails?​

Failed transactions:

  • Don't change ownership (your veNFT stays safe)
  • You pay gas fees but no platform fees
  • Usually caused by: insufficient gas, slippage, network issues

Check error message and try again with higher gas or different settings.

Protocol-Specific Questions​

Each protocol has a dedicated guide with lock details, typical discounts, and tips: