# Vest

***Note:***** Voting cycles start every Thursday at 00:00 UTC and end the next Wednesday at 23:59 UTC.**

Locking [XCAL](https://3six9innovatio.gitbook.io/documentation/3six9-products/glossary#xcal) generates [veXCAL](https://3six9innovatio.gitbook.io/documentation/3six9-products/glossary#vexcal), and how long you lock affects how much veXCAL you get in exchange.  

After you lock, you receive a [veNFT](https://3six9innovatio.gitbook.io/documentation/3six9-products/glossary#venft) representing the veXCAL you've earned in exchange, as well as the time your XCAL has been locked.

See the table below for calculating the exchange rate for XCAL to veXCAL:

| Locking time | veXCAL received for 1 XCAL    |
| ------------ | ----------------------------- |
| 1 week       | get 0.00479 veXCAL for 1 XCAL |
| 2 weeks      | get 0.00958 veXCAL for 1 XCAL |
| 1 month      | get 0.02054 veXCAL for 1 XCAL |
| 3 months     | get 0.06164 veXCAL for 1 XCAL |
| 6 months     | get 0.12328 veXCAL for 1 XCAL |
| 9 months     | get 0.18493 veXCAL for 1 XCAL |
| 1 year       | get 0.25000 veXCAL for 1 XCAL |
| 1.5 years    | get 0.36986 veXCAL for 1 XCAL |
| 2 years      | get 0.50000 veXCAL for 1 XCAL |
| 3.69 years   | get 1 veXCAL for 1 XCAL       |

### Why Lock?

When you lock and vote for a pool with your veNFT, you are rewarded with fees generated by that pool.  When people swap, you earn fees as rewards.\
\
Locking also allows you to direct XCAL emissions to pools.  By locking as a liquidity provider or protocol, your votes will direct emissions proportional to the amount of voting power held in locked XCAL in veNFTs.

### How often will I need to lock XCAL?  

That depends on your lock duration. If you lock for 1 week, you can claim your XCAL back, but you'll need to lock again if you want to continue earning fees and voting for pools.