Vesting Period
Minting dVOI currently has a vesting period of 1 week, during which the dVOI is allocated to the user but not withdrawable. The exchange rate is fixed at the time of minting, but the dVOI is locked in the contract until the week elapses.
Why?
This is a security mechanism.
On the Voi testnet, consensus rewards distributions currently take place weekly at a fixed time (Mondays.)
As such, a well designed delegation token needs a way to ensure that users claiming rewards have contributed meaningfully to the generation of said rewards.
Without a dVOI vesting period, users could mint dVOI on the day of rewards distribution, wait for rewards to be distributed, and then redeem back to VOI. This would be problematic, as they would not contribute to the online stake meaningfully over the week (and thus protocol consensus rewards), but only for a few hours.