# Vote-Escrow STELLA (3,3)

When we launched StellaSwap more than 3 years ago, our launch was predicated on a very basic tokenomics. This basic tokenomics failed to take into consideration key principles of **“*****true*****” utility** (as opposed to singularly focused on emissions-propping) and **value-accrual**. The truest utility that was missing in our tokenomics was perhaps the most important one: **governance**.

> Decentralization without community governance is a contradiction.

Empowering the community and tapping on the wisdom of the crowd will set us on the right path towards decentralization, as well as unlocking our potential to reach new heights. As DeFi has evolved radically, so must we.

## Introducing Vote-Escrow STELLA

veSTELLAis based on [Andre Cronje’s VE (3,3) model](https://andrecronje.medium.com/ve-3-3-44466eaa088b) that incorporates Curve’s locking/VE model, which incentivizes long-term holders, with Olympus DAO’s game theory (3,3) model that focuses on staking mechanisms that results in **maximum value-accrual** for tokenholders and increases protocol **sustainability** (by focusing on fee-generation).

<figure><img src="/files/GhiPFoWhmQzbB3qeixwh" alt=""><figcaption></figcaption></figure>

veSTELLA is an ERC-721 governance token in the form of an NFT (Non-Fungible-Token). It is acquired by locking STELLA, our native token. veSTELLA was introduced to enable incentivized governance of StellaSwap, rewarding participating users and holders of STELLA favorably and to create a fly-wheel effect across Polkadot’s top DEX.


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