Velodrome is now the second largest protocol on @optimismPBC and the #VeloRaces are underway.
Next week, we'll be supercharging the racers through the introduction of bribes and boosted incentives.
Are you ready racer?
👇🚴♀️💨
Bribes are an essential component of the Velodrome flywheel and we're going to kick them off right.
The Velodrome Team will bribe the VELO-USDC pool with 1M $VELO. Voters who vote for the pool will earn the bribes/fees and LPs will earn the boosted emissions.
But, we're not stopping there.
We're also going to be dedicating a portion of our voting power to boosting the pools of any protocol that either bribes or locks additional $veVELO voting power.
Giving a healthy head-start to the most engaged racers.
And don't forget, $veVELO lockers will also earn rebases in Week 2 to help them maintain their position.
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.