Delegating your vote

Automated Gauge vote rewards

Context

The Voting Market Maker concept is an essential part of the bribe economy as it enables the bootstrapping of gauge weight.

Market making in DeFi has been split into the capital coordination layer by AMMs, and the liquidity provisioning layer by individuals or professionals. The DeFi market-makers arbitrage the volume-to-depth opportunities between pools.

Due to the creation of liquid lockers, it is now possible to participate in the governance layer while retaining the ability to transfer and liquidate your position. This route was initiated by the “vlToken” model from Convex and created two new market-making opportunities. The first being delegated inflation management.

Pros

• Help mitigate the risk that individual players take control over base layers (Balancer or Curve) governances.

• Unifying rewards reduce gas cost, gives a better sight on dilution and vote efficiency

• Delegate the quantitative work to algo + experienced team > arbitrage and enhanced yield

• Better coordination among voter / governance layers / multi-chain participants (e.g Tetu / Aura)

Paladin's voter's historical performance

To simplify the work of earning and claiming voter yield, Paladin has set up a delegation address that optimizes for bribes. This is great for voters who want to passively earn their rewards. If you’re a vlCVX, vlAURA, or vlLIQ voter you’ll be able to delegate to Paladin and have your voting optimized across all incentives platforms.

As of May 2024, Paladin’s Autovoter has gathered : 1.2M vlCVX; 5.1M vlAURA and 1.8M vlLIQ.

Since the start of 2024, the Paladin delegator has outperformed all its alternatives. Example with the vlAURA performance compared to HiddenHand

So far (Q1 of 2023), the Paladin delegator has outperformed all its alternatives. For more details check out our thread on the topic.

How to delegate to Paladin

vlCVX holders:

1. Head to Snapshot

2. Click delegate in your wallet menu

Step 2

3. Delegate to paladin-voter.eth, and specify the delegation to the Convex space

• Confirm delegation to paladin-voter.eth

• Specify the Convex snapshot space: cvx.eth

Step 3

4. Confirm the transaction and you're done

vlAURA & vlLIQ holders:

This delegation is on-chain so we’ve made it easier for holders to delegate.

1. Head to the Auto voter dapp

2. Delegate your vote balance.

Delegate your vote for automated earnings

Addresses

Paladin-voter.eth (deployed on Ethereum & Polygon)

0x68378fCB3A27D5613aFCfddB590d35a6e751972C