Starting from 12th Apr 2023, veWOM holders can participate in gauge voting to determine 50% of the WOM emission.
Users can allocate their vote (1 veWOM = 1 vote) to one or more gauges (a gauge corresponds to an LP token of a pool) through the dapp. WOM emission to a gauge is proportional to the votes it receives.
Voting gauges accumulates WOM second by second according to the voting weight. When a user applies new allocation for their votes, accumulation rate of WOM of the gauge updates immediately. There is no cooldown period between votes. Users can update their vote allocation anytime as long as they have enough amount of veWOM. Only whitelisted gauges are able to accumulate WOM from users’ votes.
However, accumulated WOM is distributed to LP in the next epoch at an even rate. 1 epoch last for 7 days.
For example, if one gauge receives 70k WOM in the current epoch, it will distribute 10k WOM/day to LP stakers in the next epoch.
The rest of the 50% emission is distributed as base allocation weights shown in the dapp. It serves the purpose to provide staking incentives to the main pool and pools that bribe is not likely to attract enough liquidity.
Bribes are natively supported by the protocol. Partner protocols can provide bribes to attract veWOM holders to vote for their pools / tokens to provide more rewards to LP stakers. You may contact Wombat team if you wish to provide bribes to a gauge.
Voters of a bribed gauge are able to receive bribe rewards second by second. Users can check the reward rate and claim rewards in the dapp.
Bribe efficiency indicates value of emissions in USD generated from 1 USD of bribes. If the value is greater than 100%, protocols can amplify their emission with bribes. The current value could be found in https://app.wombat.exchange/gauge-voting