Thread by @VelodromeFi

What's next for Velodrome?

Velodrome is the central trading and liquidity marketplace on @optimismPBC.

Protocols use Velodrome to incentivize their liquidity and for the lowest fee (.02%) / slippage trades.

They also get 100% of fees + bribes as voters.

Thus, #VeloRaces👇

Velodrome's emissions are driven by the votes of $veVELO lockers. The more votes a pool gets, the more emissions it gets, the more liquidity it attracts.

The twist?

Those voters also get 100% of protocol fees and bribes, in addition to weekly anti-dilutive rebases.

This makes it highly capital efficient for protocols to lock $VELO early when emissions are highest.

They are able to bootstrap deep L2 liquidity, farm emissions, earn trading revenue, and (essentially) bribe themselves.

(yes, just like that nsfw ouroboros elephant)

So what is the state of the race?

Locks are increasing, with over 150M $VELO (50%) already locked as $veVELO.

Those that lock/vote before the next epoch (Thurs 6/8 at 0:00 UTC) will control approximately 15M in $VELO emissions and receive 1M in rebases.

(do the math 😉)

We had an impressive list of initial racers, including a few making their L2 debut.

Each partner secured an equal 1% (4M) of initial voting power and are already jockeying for position.

And some new racers are emerging...

👀@MillenniumClub3

The other big wildcard next week? Birbs!

Protocols can offer bribes as an incentive for $veVELO holders who vote for their pools.

Those that vote for those pools will receive a proportional share of the total bribes and fees.

We may even help get those bribes rolling. 👀

For those retail users locking, you can look forward to Velodrome Relay which will feature auto-compounding, vote-delegation, and much more.

medium.com/@VelodromeFi/v…

We hope you're enjoying the races so far!