Bribe’s Bidding Function is Live
Bribe is excited to share that Phase 2 of our launch is officially live. The main feature of this phase is the enabling of the bidding function, which allows bidders to access voting power to meaningfully influence a governance proposal outcome. As we previously announced, the launch of Bribe and our Aave Bribe pool was divided into two phases. Phase 1 featured the launch of staking AAVE, stkAAVE, and BRIBE into the Aave pool.
With Phase 2 now live, Bribe users can place bids to borrow and direct the collective voting power of all the staked governance tokens in the Aave Bribe pool. The highest bidder will indicate whether they wish for the pool to support or reject the relevant proposal when placing their bid. At time of writing, there is one active proposal on Aave governance, and four others which were executed within the past week.
Bidders can participate by following these steps:
- Enter — Enter the Bribe Aave pool on bribe.xyz
- Bid — Choose what amount you would like to bid and place your bribe to support or reject the proposal
- Vote — Voting power will be directed on behalf of the highest bidder
Phase 2 marks the final phase of our launch. Now, both governance token holders and bidders alike can benefit, with rewards and access to influence respectively, from the Bribe solution.
We want to thank our community for supporting our vision of decentralized governance which is transparent, accessible and incentivized. While we look forward to boosting participation on Aave governance, this is only just the beginning for Bribe. More exciting updates are on the way, so stay tuned!
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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