On November 30th, a temperature vote for the veANGLE upgrade was approved by ANGLE holders. Only six weeks later, code for the upgrade has been audited by Chainsecurity, new contracts have been deployed to mainnet, and are now ready to be integrated into the core protocol contracts!

veANGLE will soon come into effect, and voting power will move from ANGLE to veANGLE holders. They will also benefit from potential boosts on internal mainnet staking contracts and protocol fees and interests redistribution.

For details what the upgrade exactly consists in and the incentives to lock a token, you can refer to this article and this other one.

This important change will take place over several days. Here, we try to lay down the timeline of the upcoming events.

1. Tuesday January 11th: new contracts have been deployed to Ethereum mainnet, and a governance proposal has been initiated to upgrade the current contracts and make the new system effective

2. Friday January 14th: If the result of the vote is positive, current contracts will be upgraded to take into account the newly deployed contracts.

3. Right after the upgrade, the new gauge contracts will be live but won’t be receiving any rewards. ANGLE holders will also be able to lock their tokens for veANGLE and allocate their voting power to the different gauges to influence the rewards distribution of the following weeks.

4. Wednesday January 19th: Rewards will start being distributed to the new gauge contracts. veANGLE balances will also be recorded to begin interests redistribution on the following Thursday.

5. Thursday January 27th: veANGLE holders (that locked their tokens prior to the 20th) will receive their share of the interests generated by the protocol between the 20th and the 27th

Note: Only staking contracts on Angle Ethereum mainnet are concerned. Liquidity on staking contracts on Curve or Polygon, or as margin on Perpetuals don’t need to be migrated. This means that if you’re involved in such a staking contract, there’s nothing that you’ll need to do to keep receiving ANGLE rewards.

Once the upgrade is live by the end of the week, people will be able to start locking ANGLE into veANGLE at dao.angle.money and allocate their voting power to the different gauges to influence the rewards distribution. The new staking contracts will be live following the upgrade, but will start to receive ANGLE rewards only on the Thursday following the upgrade (January 20th).

On Wednesday January 19th at 4:30 PM UTC, the old staking contracts on Angle Ethereum mainnet will stop receiving any rewards. At 00:00 AM UTC on January 20th, the new gauge contracts will start receiving the new rewards, and stakers should have migrated all their funds.

Note that a vote is live to decide whether agEUR single-sided staking should be continued after the upgrade.

A test version of the dao app will soon be available on Rinkeby for those wanting to try locking ANGLE into veANGLE and voting on gauge rewards allocation.

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This article is not intended to provide legal, financial or investment, or other advice and we recommend that you do not rely on, and do not make any financial or other decision based, on this article.