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.
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
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
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.
Head to the Auto voter dapp
Delegate your vote balance.
Addresses
Paladin-voter.eth (deployed on Ethereum & Polygon)
0x68378fCB3A27D5613aFCfddB590d35a6e751972C
Last updated
