> For the complete documentation index, see [llms.txt](https://docs.vesper.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.vesper.finance/community-participation/governance/introduction.md).

# Introduction

## Background

Vote-escrow tokenomics have been a game-changer in the DeFi space since their inception. Standout platforms such as Curve have underscored their potential by enabling users to lock their tokens for a share of the revenue. For years now, it's been a proven mechanism to drive growth, boost TVL, and cultivate a thriving community.

However, this model presents challenges, primarily the liquidity constraints due to the non-transferable nature of the locked tokens. Vesper's esVSP offers an evolved approach. Drawing from the foundational principles of the vote-escrow model, esVSP is designed to address these challenges and ensure a more robust system that benefits users of the Vesper ecosystem. 

**Key features include:**

* Rewarding long-term users with a share of the revenue
* Liquid positions where users can trade their locked esVSP on the open market as an ERC-721 token
* Early exit with fees directed to the Vesper DAO Treasury