# veNFT Management

#### Primary NFT Management

**Selection Criteria**

* First valid NFT becomes primary
* Highest balance preferred
* Must not be expired
* Must be owned by vault

**Maintenance Schedule**

* Rebase every \~3 months
* Merge on new deposits
* Weekly voting execution
* Continuous optimization

### Advanced NFT Functions

#### Merging Operations

**Why Merge?**

* Consolidates voting power
* Reduces gas costs
* Simplifies management
* Improves capital efficiency

**Merge Rules**

* Only merge into primary
* Source NFT destroyed
* Balances combined
* Voting power consolidated

**Auto-Merge Triggers**

* New deposit received
* Maintenance called
* Gas optimization batch

#### Rebase Operations

**Purpose**: Maintains maximum voting power by extending lock duration

**When Rebasing Occurs**

* Lock duration < 3.75 years
* Called by keeper
* Part of maintenance routine

**Process Example**

if (timeRemaining < MAX\_LOCK - 3 months) { extendLock(MAX\_LOCK\_DURATION); }

Enables:

* Gauge voting
* Bribe claiming
* Fee collection
* Delegation

### NFT Security Model

#### Ownership Structure

* Vault owns NFTs permanently
* Users cannot withdraw NFTs
* Only authorized contracts can execute actions

#### Protected Functions

* **Transfer**: Disabled except deposits
* **Merge**: Only vault-controlled NFTs
* **Split**: Not supported
* **Burn**: Never allowed

#### Emergency Procedures

**Stranded NFT Recovery**

For NFTs sent outside deposit flow:

* Owner can rescue if not managed
* Requires proof of non-management
* One-time recovery option

**Failed Merge Handling**

* Retry in next maintenance
* Manual merge by owner
* Skip if consistently failing

### Optimization Strategies

#### Gas Optimization

* Batch merges when possible
* Combine rebase with merge
* Skip unnecessary operations
* Cache state reads

#### Voting Power Maximization

* Always maintain max lock
* Merge quickly after deposits
* Never let positions expire
* Compound all rewards

#### Management Efficiency

* Automate via keepers
* Monitor merge success
* Track rebase schedule
* Alert on anomalies

### Integration with Aerodrome

#### Gauge Voting

* Vote on liquidity gauges
* Direct emissions
* Maximize bribes
* Optimize returns

#### Reward Claims

* Collect trading fees
* Harvest bribes
* Claim emissions
* Process rebases

#### Compatibility

* Supports all veAERO functions
* Handles permanent locks
* Manages standard locks
* Processes all reward types

### User Considerations

#### Before Depositing NFTs

* Check lock isn't expired
* Disable auto-max lock
* Verify ownership
* Understand permanence

#### After Depositing

* NFT permanently in vault
* Receive iAERO tokens
* Cannot reclaim NFT
* Voting automated

#### Benefits vs Direct Holding

* No manual voting needed
* No rebase management
* Liquid iAERO tokens
* Professional optimization
* Compound efficiency

### Technical Specifications

#### Supported Operations

| Operation     | Supported |
| ------------- | --------- |
| Deposit       | ✅         |
| Merge         | ✅         |
| Extend lock   | ✅         |
| Vote          | ✅         |
| Claim rewards | ✅         |
| Withdraw      | ❌         |
| Split         | ❌         |
| Reduce lock   | ❌         |
| Transfer out  | ❌         |

#### Gas Costs (Estimated)

| Operation      | Gas Cost   |
| -------------- | ---------- |
| Deposit veNFT  | \~200k gas |
| Merge NFTs     | \~150k gas |
| Rebase lock    | \~100k gas |
| Vote execution | \~300k gas |

These operations are optimized and batched where possible to minimize costs.


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