Delegation

Vemo NFT account expands its capabilities by allowing NFT owners to transform the functionalities (the rights to use) of various assets within the account into derivative NFTs. These derivative NFT holders, designated as delegatees, are authorized to interact with whitelisted smart contracts in line with their specific roles. However, they are restricted from transferring out or burning funds in the account or engaging with non-whitelisted smart contracts, ensuring asset security.

In this version of the NFT Account, we've only enabled vePENDLE voting power delegation to the Vemo team. We plan to introduce additional delegation features in future updates.

The vePENDLE delegation model involves two key participants:

	vePENDLE Owner	vePENDLE Voter
Requirement	Own the original NFT linked to an NFT Account holding vePENDLE	Own the "vePENDLE Voter" NFT
Collection on OpenSea	https://opensea.io/collection/vemo-nft-account-ethereum	https://opensea.io/collection/vependle-voter-ethereum
Abilities	Can extend the lock period, increase the stake, or withdraw PENDLE upon maturity via Pendle Finance Can generate a derivative NFT designated as "vePENDLE Voter" (sharing the same tokenID but different collection from the original NFT) Retains the authority to revoke vePENDLE Voter's privileges	Granted access to specific functions within the NFT Account Can connect NFT Account to Pendle UI Can cast votes and collect rewards from Pendle Can not extend the lock period, increase the stake, or withdraw PENDLE upon maturity.

Grant "vePENDLE Voter" role to Vemo

• On NFT Account page, click “Delegate” button.

• A pop-up will appear, asking you to select a voter to delegate. In this version, the Vemo team wallet address (0xcE3bd7c87ab7BbB95B366A6f48AaD55dF4011241) will be pre-selected as the vePENDLE Voter for you. Go through it and confirm via Metamask.

• If the delegation succeeds, you'll see a message on the UI: "vePENDLE Voter (0xcE3…1241)"

Revoke "vePENDLE Voter" privileges

• On the NFT Account page, click the "Request to release" button. This action will ask the Vemo team to release the derivative NFT associated with the "vePENDLE Voter" role and revoke all privileges. A pop-up will appear, go through it and confirm via Metamask.

• If the request succeeds, you'll see a message on the UI: "vePENDLE Voter (0xcE3…1241) expires in xxx days." The Vemo team will then release the derivative NFT as soon as possible.