Existing ve(3,3) exchanges (Velodrome, Aerodrome, and their forks) solve the liquidity-incentive coordination problem by letting token holders lock into veNFTs and direct emissions via gauge votes. In practice, this creates a new inefficiency: locked voting power is illiquid and frequently underused. Smaller holders lock tokens and either vote passively or not at all, while protocols that need votes to attract emissions must acquire and lock large token positions outright, tying up capital for the multi-year duration of a lock. Magnetar Finance addresses this with veRentals — a marketplace layered on top of a standard ve(3,3) core that lets veMGN holders lease out their voting power for a fee or commission, instead of leaving it idle or selling the underlying lock. Protocols and bribers gain short-term access to governance weight without needing to buy and permanently lock MGN; veMGN holders earn yield on locked positions that would otherwise sit unproductive between epochs. The target audience spans two sides of the same market: (1) veMGN lockers — early team, seed investors, and long-term holders — seeking yield on locked positions, and (2) protocols, DAOs, and bribe desks that want temporary governance influence over gauge emissions without permanent capital lockup. Monetization runs through rental commissions on the veRentals marketplace, standard AMM trading fees across concentrated and volatile pools, and a cut of the bribes market that forms around gauge votes.
Key Highlights
Launched veRentals to mitigate capital efficiency problems in existing ve(3,3) exchanges
Developed a DAO treasury held under a governor-controlled timelock, satisfying full v(3,3) mechanics
Active testnet trial on LitVM Liteforge with ~86 pools live & 10k+ transactions processed to date