Bribe Awarded Aave Grant to Provide Gas Rebate for Early Stakers
Bribe has been awarded $10,000 from the Aave Grants DAO which supports projects, ideas, and events that benefit Aave and its ecosystem with funds to boost growth.
This grant from Aave represents a significant milestone for Bribe and its adoption within the Aave ecosystem. Bribe is proud to be working to bootstrap governance participation by incentivizing token holders to participate in protocol decision-making. Bribe aims to bring about a future where DeFi governance is transparent, accessible, and incentivized, and receipt of this grant is an important first step.
Bribe is confident that our VEV tooling alongside the Aave Bribe pool will help increase participation in Aave’s governance, a vital primitive leveraged by many other permissionless protocols to facilitate composability in DeFi. More importantly, we believe Bribe’s receipt of this grant just a few weeks after launch is indicative of larger DeFi trends that continue to tilt towards “bribery” as utility tooling for DAO governance.
Bribe launched its application and the Aave Bribe pool in January. Our flagship product, Voter Extractable Value (VEV), coordinates Aave token holders into a powerful coalition of voters. The associated voting power of this coalition — or pool — is auctioned for use by a highest bidder to propose, support, or defeat on-chain governance decisions. The winning bid (or bribe) is then distributed to stakers as USDC income. In short, depositors are rewarded in USDC and $BRIBE emissions for staking their AAVE and stkAAVE in the Bribe pool. Bidders can then access voting power to meaningfully participate in Aave governance. Overall, Aave benefits from a new, monetizable use case for stkAAVE.
Bribe has been awarded $10,000 from the Aave Grants DAO, which we are excited to announce will be used to provide an additional .3 AAVE gas rebate (approx. $50) to each new stake for the next 150 stakers in our Aave Bribe pool. We are pleased to reward early adopters of the Bribe solution after staking their governance tokens (AAVE and stkAAVE). Bribe’s community has continued to show its unwavering support throughout our recent launch. We look forward to saying “thanks” tangibly with this gas rebate.
About Bribe
Bribe creates DAO infrastructure tooling to incentivize protocol participation. Depositors stake their governance tokens in the Bribe pool to earn income. Bidders borrow the staked votes to support or reject governance proposals. Bribe V1 introduces Voter Extractable Value (VEV) to coordinate and auction powerful coalitions of DAO votes. Bribe is best used as part of a well-balanced and active delegation strategy.
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