# The $XCAL Token

## $XCAL

$XCAL is the 3xcalibur Ecosystem Token. Issued on Arbitrum as a standard ERC-20 token. The token serves multiple purposes such as: accruing platform fees and bribes, voting on gauges and being the de-facto governance token.

It can be vote-escrow locked into $veXCAL for variable lengths: from 1 week to 3.69 years. Eventually in a successive phase, $XCAL token holders will be able to get some of the benefits of veLockers (like fee accrual) without the need of locking.

## $veXCAL

Vote-Escrow locking $XCAL tokens results in vote-escrow $XCAL tokens ($veXCAL). The locked position will be represented by a veNFT and the $veXCAL holders will be able to participate in the overall platform governance.

$veXCAL holders will be able to vote for which liquidity pools receive emissions in a given epoch by using the gauges in exchange of trading fees (for 3xcaliSwap pools), lending/borrowing fees (for 3xcaliCredit) and the corresponding bribes.

In addition to that, $veXCAL holders will receive $XCAL emissions through our liquidity mining program.


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