veNEWO

Pioneered by Curve and later implemented by others such as Frax and Balancer, the vote-escrowed (ve) token model has become a standard for optimal incentive alignment across protocol participants. For the unaware, the veToken model allows users to lock their tokens for a set period and then allocates governance power and rewards to those users depending on the selected duration. Essentially, a longer locking period results in a larger allocation of protocol perks.
Value Accrual Mechanisms
In New Order’s current state, there will be 5 value accrual mechanisms for veNEWO that will aggregate protocol utility to lockers:
Governance Power: To ensure that users with the most conviction are steering incubation engagements and protocol changes, governance power will be exclusive to veNEWO holders. Additionally, the longer the locking period, the higher the boost in governance power.
Protocol Emissions: Similar to how governance power will be distributed, emissions to veNEWO holders and LP stakers will also be eligible for a locking boost that will vary based on the selected locking period. As proposed here, LP stakers will follow a separate emissions allocation as we shift incentives towards an Olympus Pro bonding program in order to accumulate protocol-owned-liquidity (more details in a later section).
Note: Overall protocol emissions will stay consistent with the current emissions schedule. Only the distribution mechanism is to be changed.
Treasury Rewards: veNEWO holders will be eligible to receive treasury yield, while LP stakers will not. Treasury rewards will directly correlate with the yield generated by the incubated/accelerated project tokens held in the treasury and other revenue-generating streams. Yield sharing will adhere to the structure below with monthly reassessments:
Airdrops: Any future incubated project airdrops will be exclusive to veNEWO holders, with the allocations depending on the lock period and number of tokens locked.
Note: Airdrops are on a case-by-case basis as some projects may prefer fair launches. If airdrops are not a part of a particular protocol’s tokenomics, veNEWO holders will still be entitled to the revenue share mentioned above.
Whitelists: Incubated project whitelists will be subject to the same approach as airdrops, i.e. the allocations will be contingent on the lock period and the number of tokens locked. Highly convicted holders will be entitled to higher allocations, shifting ownership of ecosystem protocols to long-term backers.
Locking Details for NEWO Holders
NEWO holders will be able to lock up their tokens for a minimum of 3 months to receive a 1x boost up to a maximum of 3 years to receive a 3.3x boost. The boost dictates the amount of veNEWO a user receives (e.g. locking 100 NEWO for three years will return 330 veNEWO). veNEWO will not be a transferable token and it will not trade on liquid markets. It is more akin to an account-based point system that signifies the vesting duration of a wallet’s locked NEWO tokens within the protocol.
The boost received for locking will stay constant for the lock period and will not drop over time. If NEWO is locked for 3 years, the locker will receive 3.3 veNEWO for the duration of the lock period.
Each wallet can only have a single lock duration, meaning that a single address cannot lock numerous tranches of NEWO tokens for different lengths (e.g. one tranche of NEWO for 2 years, another tranche of NEWO for 3 years, etc.). All NEWO per address must have a uniform lock time. 
When locking more NEWO under the same address user will only be able to lock for the same or longer period as the existing locked position. Locking more NEWO under the same address will lock both the existing locked position and the new NEWO for the new lock period. As an example, when a user locks NEWO for 1 year, and after a 6 month period decided to lock their accumulated farming rewards, they will only be able to lock for a period of at least 1 year. When locking the accumulated farming rewards under the same address as the existing lock, both the farming rewards and the initially locked principal will be locked for 1 year. Effectively locking the initial principal for 18 months, 6 months of the initial lock and an additional 12 months after locking their farming rewards. 
Any locked NEWO cannot be unlocked unless the end-date of a locking period is reached or unless a protocol emergency arises.
Options for LP Stakers
With the introduction of veNEWO, LP stakers will have two available options for participation:
Olympus Pro Bonding
As mentioned earlier, LP stakers will follow a separate emissions allocation as we shift incentives towards an Olympus Pro bonding program, where current LPs will be able to sell their LP position for NEWO at a discount and then lock for veNEWO once live. This means that emissions to LP stakers will decrease over time with the reduction being matched through Olympus Pro, resulting in no change to overall token emissions. The reduction in direct LP emissions will begin on the 20th of June and will continue running until the protocol obtains 90% protocol-owned-liquidity.
Locking Additional NEWO
In order to receive a boost on LP emissions, LP stakers must lock up an equivalent amount of NEWO as used in the staked position under the same wallet. The emissions boost is based on the same boost schedule as used in veNEWO locking.
For example: if a user has pooled 1000 NEWO / 1000 USDC and staked the LP token, locking an equivalent amount of NEWO (1000) for 3 years would entitle the LP staker to a 3.3x boost on the overall emissions received. If the additional amount of NEWO locked is only a fraction of the NEWO that a user pooled, only a fractional boost will apply. Using the same example, if 500 additional NEWO is locked for 3 years, the boost to LP emissions would be 500/1000 * 3.3x = 1.65x.
Note: When locking additional NEWO, the portion of NEWO in the staked LP position will not receive any extra perks (besides a boost in emissions), while the additionally locked NEWO will (i.e. governance power, airdrops, etc).

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Outline

Value Accrual Mechanisms

Locking Details for NEWO Holders

Options for LP Stakers

Olympus Pro Bonding

Locking Additional NEWO