💰Meta Bribes

Bribing the bribers

A project that bribes well compared to its own voting power should be rewarded.

Two factors are important here:

✅ The relative size of the bribe in relation to the total bribe amount across all pools.

✅ The partner's relative voting power needs to be factored in.

We will use the following formula to determine the weekly rebase for partners:

The first part of the equation incentivizes larger bribes in general. Think of it like a cashback for spending money on bribes.

The second part focuses on the protection of the protocol. Larger bribes will attract more votes and therefore a higher revenue in return for your bribes. So, each epoch 7% of weekly $STRAT emissions are directed towards meta bribes and are claimable at epoch flip.

Partners will need to whitelist their addresses to receive meta bribes. Any protocol can participate, including partners that start to accumulate STRAT (and lock it) at a later stage.

Examples

Protocol A: 3% veNFT, bribes 5000$, 4.5% total votes

Protocol B: 3% veNFT, bribes 3000$, 4% total votes

Protocol C: 1% veNFT, bribes 4000$, 2% total votes

Weight(A): 2x 5000/12000 + 0.045/0.03 = 2,333

Weight(B): 2x 3000/12000 + 0.040/0.03 = 1,833

Weight(C): 2x 4000/12000 + 0.020/0.01 = 2,666

Rebases (assuming 10,000 Strat as rebase for this epoch for simplicity)

Rebase(A): 2,333/6,832*10000 = 3,414.81

Rebase(B): 1,833/6,832*10000 = 2,682.96

Rebase(C): 2,666/6,832*10000 = 3,902.22

Note:

• Protocol C gets the largest rebase due to the larger bribe compararive to the voting power. This has to be the case, since larger bribes get diluted more due to additional voters that will vote for their pool to receive the bribes

Pracital note: if a veNFT that is eligible for Metabribes is allowed to expire, any accrued rewards will no longer be claimable.