Vote and Bribes
Last updated
Last updated
vlEQB (See how to get the vlEQB) is available on both Arbitrum and Ethereum. We enable users to vote on multi chains. The votes will be merged to control the vePENDLE Equilibria owned in Pendle's Gauge Voting system. Participating in the Gauge Voting can earn a vote reward from Pendle and potential bribe reward.
When you have vlEQB either at Arbitrum or Ethereum, you can visit and vote at Equilibria Snapshot [Epoch #xx] Weekly Pendle Gauge Vote. The official snapshot page is: https://snapshot.org/#/equilibriafi.eth
Each vote epoch start from Monday 6AM UTC to Wednesday 6AM UTC. Then the team will use the result to vote at Pendle. If you want to join this Epoch, you should lock your EQB before the previous Thursday.
The vote reward from Pendle will be claimed back and distributed every 4-5 weeks paid in ETH. The voted vlEQB holders can come back to Equilibria Vote Page to claim the reward.
Here is a graph to explain:
If you want to participant into the Vote of vlEQB Epoch n, you need to lock your EQB/xEQB at Epoch n-1.
Protocols who have liquidity on Pendle Finance are very keen to buy votes from Equlibria. By doing this, they can get more PENDLE emission on their liquidity. So there will be very promising bribes reward for all the vlEQB holders.
After votes on Snapshot, the bribe reward will be distributed. The voters can claim their bribes at Equilibria website.
Here is an exmaple to explain:
if there are 1,000 vlEQB in the market and Equilibria has 50,000 vePENDLE, and four pools are available for voting with bribe rewards of $1, $2, $5, and $10 for every 100 vePENDLE voted one day, then 500 vlEQB are voted, with 100 votes each for three pools and one for 200 votes. This will control the 50,000 vePENDLE owned by PENDLE to vote on Pendle with 10,000, 10,000, 10,000, and 20,000 votes, respectively.
For each EQB, the voters will earn $1, $2, $5, and $10 per day, respectively. This will help the EQB token to earn more rewards. Equilibria will charge a 4.5% fee for every bribe reward, and a 0.5% fee for the caller who claims the voting reward from Pendle.
