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Bribing
Each week, a certain amount of BELA will be withdrawn from the treasury to be used as emissions to grow our POL (BELA to be sold as veBELA for LP tokens). The proportion of BELA allocated to each pool will be determined by emission gauges whose weights will in turn be determined by veBELA holders via voting (pro-rata by vote count).Other protocols will be able to bribe veBELA holders to vote for their pools, which will create buy pressure for their token and secures permanent liquidity more cheaply than using protocols that offer POL-as-a-service.The weekly amount of BELA from the treasury to be used as emissions is decided by the team, taking factors such as how close our pools are to their target liquidities, recent demand for veBELA, and bribing activity into consideration. (A fixed emission schedule in unsuitable since there may be times when we do not want to acquire any more liquidity.)While the pool allocations for the majority of emissions will be decided via voting to enable bribing, 10% will be set aside to be decided by the team. This is because we expect that certain pools such as BTC-USDC, ETH-USDC, etc. are highly unlikely to receive bribes, yet as major drivers of volume they are key to the profitability of Beluga and thus of veBELA holders.
Last modified 1yr ago