# Voting

Catex has introduced several innovative modifications to our voting mechanics, recognizing opportunities for enhancement beyond the current market standard. These adjustments particularly facilitate one of our key features: delegating your voting power to a manager. This allows for a 'set-and-forget' experience, enabling users to adopt a more relaxed approach to participation.

We've entirely revamped our voting escrow contracts to implement an account-based voting system, distinguishing us from the prevalent veNFT-based voting systems in the market. Users now have two main options: directly voting for specific liquidity pools to claim associated rewards or delegating their voting power to a manager. Each option offers unique advantages and conveniences.

## Voting APR

On our website/UI, you will find a column showcasing the voting Annual Percentage Rate (APR). This metric is calculated using the following formula:

Voting APR = (TVB / TV) \* Weeks / `CATX` Price \* 100%

Where:

* Weeks = Approximately 52.179 (the number of weeks in one year)
* TVB = Total Value of External incentives in USD
* TV = Total Number of Votes

The voting APR provides insights into the engagement level within the ecosystem. It takes into account the total value of incentives, the duration in weeks, and the current `CATX` token price.

## Rewards

Voting holds several enticing benefits that you should consider:

1. Directing `CATX` Incentives: Your vote influences the allocation of `CATX` token incentives. By voting according to your preferences, you shape the distribution of rewards.
2. Pro-rata Share of Trading Fees: When you vote on a pool, you become eligible for a pro-rata share of all trading fees generated by that pool. This benefit applies exclusively to LPs staked to receive `CATX` rewards.
3. Pro-rata Share of incentives: Voting on a pool also grants you a pro-rata share of all external incentives added to the pool by third parties. Throughout an epoch, external incentives can be contributed at any time. A snapshot of votes is taken at the end of each epoch (time to be set).&#x20;

{% hint style="warning" %}
**Remember:** Casting your vote before the epoch snapshot is crucial to qualify for rewards. Remember, voting transactions do incur gas fees. If you skip voting in any week, while rewards will still go to the gauge, you'll miss out on your proportional share of those rewards.
{% endhint %}

* Trading fees and incentives are claimable as a lump sum after the epoch has ended.
* You have to vote weekly in order to be eligible for the fees and incentives.
* You can change or reset your vote at any time.
