Farms, but better.
A gauge is a fancy crypto term for defining how much of the
PLYrewards an LP can earn when providing liquidity to a Plenty liquidity pool. The higher the votes for a gauge, the more
PLYcan be earned by staking LP tokens in a gauge.
The gauge is an instrument to measure which liquidity pool is weighted most heavily with rewards. Voting for gauges occurs weekly.
PLYemissions should be directed to users who provide liquidity within the protocol. This usage is measured via “gauge” smart contracts. Each liquidity pool has an individual liquidity gauge.
To measure liquidity, the user deposits their LP tokens into the gauge.
PLYemissions each gauge is getting depends on the current inflation rate and the gauge weight. Each user receives a share of
PLYproportional to the amount of LP tokens locked in a gauge.
Users can allocate their voting power towards one or more gauges to earn trading fees and bribes attached to the liquidity pool. Gauges receive newly minted
PLYproportional to its vote weight. Each user with a
vePLYNFT can change their preference at any time.
When a user applies a new weight vote, it gets applied at the start of the next epoch (1 week). The weight vote for any one gauge cannot be changed more often than once in 7 days.