Bribes are a new concept layer to the gauge model.
Bribes are a new concept layer to the gauge model. This opens up an additional revenue stream for inSPIRIT holders by virtue of "external protocol incentives".
The gauge model effectively puts control of emission incentives in the hands of inSPIRIT holders. This means if a protocol wants to deepen their liquidity, they want to ensure their "farm / gauge" is adequately incentivized with SPIRIT emissions in order to attract said "liquidity" to "farm" those emissions. How do they do this ? BRIBES.
A bribing protocol will offer inSPIRIT holders a reward or "bribe" to vote on their gauge for that weeks coming epoch. The more votes a gauge receives, the more emissions that gauge gets allocated, thus the higher the likelihood is that yield farmers will support that pool with their liquidity (liquidity deepened, mission accomplished 👍).
By way of bribes, inSPIRIT holders are given yet another earning potential to balance to "opportunity cost".
Any bribes an inSPIRIT holder participates in, can be claimed at the end of each epoch via the "claim bribe and vote rewards" button on the inSPIRIT tab.
Claim bribes button as displayed in the inSPIRIT tab.
Each week, inSPIRIT holders can review all bribes available within the inSPIRIT tab prior to voting on the weekly gauge emissions. Currently this is displayed by calculating the value of each bribe per 10,000 inSPIRIT held.
For convenience and to maximize the potential of inSPIRIT strategies, users can also opt to filter their weekly inSPIRIT votes to display only protocols who are offering bribes.
Bribe display in V2 inSPIRIT tab.