# MinMax DAO Launches New Pools & veMAX Voting By [MinMax DAO](https://paragraph.com/@minmax-dao) · 2022-01-31 --- MinMax DAO is the first protocol on IoTeX blockchain to launch ve-token system similarly to curve finance which its veCRV is used for staking, voting and boosting. We have witnessed the successful stories of veToken by other protocols which are similar as MinMax. The ability to stake, vote and boost grants MinMax users more ownership of the protocol. In preparation of MinMax becoming a more decentralized protocol, we are one step closer to the DAO implementation by launching new base pools comprising of stablecoin from Ethereum, Polygon and Binance Smart Chain as well as first approved metapool for [xDollar Interverse Money (XIM)](https://iotex.app.xdollar.fi/#/), a multichain multi-collateral collateral based stablecoin. From now on, MinMax users can choose to lock their MAX tokens in return for protocol benefits like boosted MAX emission APRs and voting privileges. MinMAX New Pools and Outdated Pools =================================== As per community approval of [MIP 002 proposal suggested MinMax New Base Pools and XIM Metapools](https://snapshot.org/#/minmaxdao.eth/proposal/0xff63f78688e38f5eb9ffa9cc4aa8081af2ce9c8d89ef3094c1b4d9ab83ecb83f), we have implemented the changes today with six new base and meta pools on [minmax.finance](https://minmax.finance/#/). We encourage all users who deposited their liquidity on previous XIM pools (these are outdated) to withdraw their funds and migrate to new base pools and metapools. A new farming system is detailed as following with the launch of veMAX staking and voting implementation. ![New Standard Base Pools](https://storage.googleapis.com/papyrus_images/dcb8f537f1f578a2fc92169fcff6d812be54cde04534af5f07a1a53c83e71463.png) New Standard Base Pools ![New Approved XIM Metapools](https://storage.googleapis.com/papyrus_images/e52c0c12e32cc4b87543625c0633f945e43de7d8139fb2c55156f091d95c3944.png) New Approved XIM Metapools ![Outdated XIM Base Pools](https://storage.googleapis.com/papyrus_images/92f113b66dd1d38d9935402d9056e2df3ddfe8d8d2adf1a4a1615653e75feaef.png) Outdated XIM Base Pools MAX Token Staking ================= The first step for those whom want to get involve in MinMax governance is to stake MAX on [vote.minmax.finance](https://vote.minmax.finance/). This is the frontend for the user interface that will play a critical point in pivoting MinMax Finance into next level. We would like to take this chance to express our gratitude to [@vfat0](https://twitter.com/vfat0) for sharing their veHND implementation. Thereby, users can connect their wallet on IoTeX to access this vote-escrow UI which is implemented by [hundred.finance](https://hundred.finance) and designed by [SharedTools](https://www.sharedtools.org/). ![](https://storage.googleapis.com/papyrus_images/7e0d2684f8981488c25158312feaee4ead22f8eb0d2c58776cda6ae94e3bb446.png) For your information, vote-escrow is a mechanism for locking MAX tokens by a period of time. In return, a wallet address receives veMAX relative to the amount locked and the length of the lock. Please noted that these veMAX tokens are non-transferable and have privilege to vote on which base pools and metapools gets the greater proportion of MAX emissions weekly. The current stable pool setup is allowing proportional voting on six existing pools (E3, M3, B3, XIM-E3, XIM-M3, and XIM-M3 gauges). ![](https://storage.googleapis.com/papyrus_images/b45693d9d36475ea24ba8bf6364ca206557ebab7b895f8b02862098d168ede99.png) On top of this, users will receive an APR reward boost up to a maximum of 250% on the pool they farmed on MinMax. In meantime, veMAX users are allowed to propose and vote for new addition of pegged assets on MinMax for the asset diversification and deep liquidity of pegged assets on IoTeX. ![](https://storage.googleapis.com/papyrus_images/c8765fca9ca441e5c4295d0fe46a6a4c91ebba918c8da6303f7d88456fc2bae4.png) The way in which MAX tokens are distributed will revise as a consequence of the newly implemented veMAX system. Please noted that the old system (in which MAX are vested linearly for supplying stablecoin liquidity) will stay the same for MAX-XIM 2pool for the time being. The vested MAX farms will be deprecated while all previously vested MAX rewards for the stablecoin pools are able to be claimed on [claim page](https://minmax.finance/#/claim). From February 2nd, 2022, the farming reward in our farm page will begin receiving their MAX rewards as per voted on the first epoch. The farming reward emission is adjusted weekly while users can lock and vote for their favourable pools throughout the week prior to the current round of epoch ending. The role played by the amount of veMAX an account holds in determining their APR boost is the reason Farm APRs are expressed as a range. This will be reflected on farm UI once the farm reward is up in next 2 days. An account farming with no veMAX will get the lowest APR in the range, while those using the vote-escrow will get up to 250% that amount based on their veMAX holdings. This boost provides a high motivation to lock the MAX token and become a long-term community member. ![](https://storage.googleapis.com/papyrus_images/3d95f748550b24ffaa728922d48b205bc5602947bdd2afbd96dbfa2074760cc1.png) Lastly, we’re delighted to build and deploy what’s best for MinMax. At the same time, we envision the protocol is one step closer to decentralized protocol by engaging the community with veMAX token deployment. Now the community members can directly involve in the governance by managing their veMAX token and exploring different farming strategies under the new veMAX voting system in guiding MinMax Finance forward!! --- *Originally published on [MinMax DAO](https://paragraph.com/@minmax-dao/minmax-dao-launches-new-pools-vemax-voting)*