Bribes are offered to individuals with voting power to influence the outcome of a vote. This involves two parties:
- The person or project offering the bribe (the "briber") aims to increase their voted veASH on AshSwap DAO without directly buying or owning veASH voting power.
- The individuals accepting the bribe (the "bribe takers") are a group of veASH holders who agree to trade their current voting power for valuable assets, such as stablecoins or other tokens.
If you're looking to receive rewards on AshSwap, you can participate in the Bribe feature. Here's how you can get started:
The total amount of bribes for each pool will be displayed in the Bribe column on the interface's right side. The amount of Bribe you are eligible to receive is proportional to the ratio of Your voted veASH to the Total voted veASH of each pool.
Let's move on to Step 2 to see how much bribe you can get.
Once you've voted for a farm, you can then proceed to claim your Bribe rewards by visiting the Bribe page.
Your Rewards = Total Treasures * Your Capacity
These are some criteria you need to check:
- Total Treasures: the amount of the pool’s reward.
- Capacity: the ratio between your voted veASH and the total voted veASH of the pool.
- Available Until: the last day you can claim your current reward.
Simply click the "Claim" button to receive your reward after the current DAO cycle ends (every Thursday).
Note: If you forget to claim your reward within the DAO cycle (7 days), your reward will return to the Total rewards pool and be divided equally among other participants in the next DAO cycle.
To better understand how Bribe rewards work, refer to the example below:
A DAO cycle begins at 00:00 UTC every Thursday with a 7-day duration. For instance, let's say it's Week 1, Week 2 and Week 3. Here's how the Bribe rewards work:
- The Total Bribe of USDT/ASH farm is currently 0.
- Week 1: On Friday, user Alice creates a Bribe for USDT/ASH Pool with a 5,000 USDC reward. Alice’s 5,000 USDC Bribe reward is added to the Total Rewards pool of USDT/ASH farm. User Bob and Chad (along with other participants) vote for the USDT/ASH farm to receive the reward.
- Week 2: At 00:00 Thursday, the Total rewards pool is distributed to participants who voted for the USDT/ASH farm last week. However, some participants forget to claim their reward, and by the end of the DAO cycle, 2,000 USDC rewards remain unclaimed.
- Week 3: The 2,000 USDC reward left will be returned to the Total rewards pool and combined with other Bribe rewards.
If you're interested in creating Bribes to incentivize participants to vote for your farm, here's how you can get started:
Next, select the farm that you want to offer rewards for and choose the reward token. Input the amount of rewards that you want to offer and then click "Create Bribe."
Select Reward Token and Input Amount
Click “Create Bribe” and confirm the transaction
Your bribe has been successfully created at this point and is now ready to be distributed to users who voted for your farm in the subsequent DAO cycle.
Let's get the word out to vote for your farm, shall we?
Note: Once you create a Bribe, you cannot undo your action or request a refund. Additionally, the "Create Bribe" action is separate from the “Voting” action, which means that after creating a Bribe for a farm, you can also vote for that farm and receive your created Bribe. The reward from the Bribe you created will be estimated at $ and combined with other Bribe rewards created by others to be shown in the Total rewards section.