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Non-Custodial & Verified Design

How Listing Works Under the Hood​

When you list a veNFT on veX, the transaction flow is:

  1. You approve the veX contract to transfer your veNFT (one-time per protocol)
  2. You create a listing — this records your price and terms on-chain
  3. Your veNFT stays in your wallet — the approval only gives veX permission to execute a transfer, it doesn't move anything
  4. When a buyer purchases, the smart contract executes the transfer atomically: buyer's payment goes to you, your veNFT goes to buyer, in a single transaction
  5. If no one buys, nothing changes. You can delist anytime.

The key point: veX never holds, escrows, or controls your veNFT. The approval is permission to act on a completed sale, not custody.

What You Keep While Listed​

Since the veNFT never leaves your wallet:

  • Voting rights — Vote on emissions every epoch as normal
  • Trading fees — Earn fees from pools you vote for
  • Bribes — Collect protocol incentives for your votes
  • Rebases — Weekly distributions continue accruing
  • Full control — Delist anytime, or keep earning until it sells

Listing a veNFT has zero opportunity cost beyond gas fees.

How Verification Works​

Every veNFT listed on veX goes through automatic on-chain checks:

  1. Contract verification — Confirms the NFT comes from a recognized protocol contract (e.g., Aerodrome's official veAERO contract)
  2. State validation — Checks the NFT hasn't been merged with another position or split since listing
  3. Data integrity — Pulls lock amount, lock period, and voting power directly from the blockchain

If any check fails, the listing doesn't appear. There's no manual review process — it's all on-chain.

For buyers: If you see a listing on veX, it's a real, unmodified veNFT from a verified protocol contract. No need to independently verify contract addresses.

For sellers: Your listing appears with a verified badge automatically. No application process needed.

Risks to Be Aware Of​

Non-custodial doesn't mean risk-free:

  • Smart contract risk — veX's contracts have been audited, but all smart contracts carry some risk
  • Approval risk — The approval you grant could theoretically be exploited if a contract vulnerability existed. This is standard for all DeFi approvals.
  • Protocol risk — The underlying protocol (Aerodrome, Hydrex, etc.) has its own risks separate from veX
  • Merge risk — If you merge a listed veNFT with another position, the listing stays active at the old price with the new (larger) amount. Always delist before merging.

As with all DeFi, don't trade with more than you can afford to lose.