BRIBE Token is Gateway to Protocol Governance & Revenue-Sharing
Having announced our LBP event for the distribution of our native BRIBE token, set to take place on CopperLaunch on January 25, 2022, we wanted to highlight some of the various use cases of BRIBE for our users. The BRIBE token is positioned to play an important role in the protocol, not only as a way to earn revenue but as a key part of Bribe’s mission to revolutionize dGov.
Our native token, BRIBE, is an essential platform component that allows community members to participate in direct decision making for the protocol. BRIBE token staking is users’ gateway to governance and revenue-sharing, thereby representing a long-term stake in the protocol’s success. This plays out in three fundamental ways: staking, emissions, and governance.
Staking Rewards
BRIBE holders can stake in a protocol specific pool on Bribe in order to earn generous rewards. 10% of every winning bid is allocated to stakers of BRIBE in that specific pool. In this way, BRIBE acts as an index for all Bribe pools, offering holders a baseline of exposure to activity on the protocol.
Users simply select the protocol pool they would like to stake their BRIBE in and earn the 10% rewards once the bidding has ended.
Emissions
BRIBE stakers will vote on the allocation of BRIBE emissions to each Bribe pool. This allocation process serves as a crucial mechanism for bootstrapping liquidity in a new Bribe pool, because additional BRIBE emissions increase the attractiveness of a pool for all participants. At launch — given that the Bribe DAO has not yet been implemented, emissions for each Bribe pool initially (the first few months) will be set by the team.
Governance
Stakers of BRIBE who direct BRIBE emissions to a Bribe pool will hold voting power in that pool. Decisions such as proposal frequency, starting bids, and vetos may be made by governance of a particular Bribe pool. At launch, initial veto decisions for each Bribe pool will be made by the underlying DAO (i.e., Aave Guardian Multisig will serve as the veto for the Aave Bribe pool) until the Bribe DAO is officially implemented.
Future Token Models
Other token models such as staked (stk) and vote-escrowed (ve) tokens are sweeping the DeFi ecosystem. “Stk” token models, for example stkAAVE, serve as a placeholder for the staking of the primary token. This gives users who stake their tokens in the protocol a liquid token to hold in the meantime. “Ve” token models allow users to lock the primary token in a protocol, and earn more ve tokens the longer they remain locked. Both of these models have undeniable utility for Bribe and we are looking to implement them in the future.
Upcoming Liquidity Rush
Following the LBP, Bribe will begin a three week Liquidity Rush Program. With this program, stakers of BRIBE-ETH Sushiswap LPs (SLPs) will earn considerate rewards. The parameters of the liquidity rush and rewards for stakers will be announced soon. Stakers of AAVE and stkAAVE will be receiving rewards in BRIBE as well.
The Future of BRIBE
Bribe will continue to position itself as a pillar in the revolution for decentralized governance. The BRIBE token will play a central role in the future of Bribe and thus the broader future of DeFi governance. BRIBE is not only a pivotal feature of the protocol, but an essential part of our vision for the future.
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