How to Vote to Direct Emissions
Last updated
Last updated
This page explains the mechanics of voting to direct emissions from the Maverick veFlywheel. For an overview of how the veFlywheel works, see Understanding the veFlywheel.
Each epoch of the veFlywheel has a voting period, which begins seven days after the start of the epoch. At the start of the voting period a snapshot is taken of all veMAV balances and their delegations. This snapshot determines the voting power of every address for the current epoch. Any MAV staked or veMAV delegated after the snapshot will not be eligible for voting until the following epoch.
If you staked MAV for veMAV prior to the launch of Maverick V2, it may need to be synced to the V2 contracts to be used in voting. Please see the page on Syncing V1 veMAV for more information. Like staking and delegating, syncing must be done before the snapshot for the synced veMAV to be eligible to vote in the current epoch.
All voting is accomplished through the Voting page, which can be accessed by choosing Vote from the top menu in the dApp.
The info bar on this page gives you information about the current epoch, including your voting power and when the voting period and epoch start and end. In the future, you can use the drop-down menu under Token to switch between veFlywheels. For the rest of this page, we'll assume you're voting in the MAV veFlywheel, but the mechanics would be the same for any other ve tokens enabled by Maverick.
The list below shows all the Boosted Positions included in the Maverick veFlywheel. To be included, these Boosted Positions all have to include MAV and veMAV in their reward contracts. For more information, see How to Create a Boosted Position. You can also see relevant stats for each Boosted Position, including TVL, Incentives (i.e., external incentives sent to this Boosted Position), and Total Votes received in this epoch.
Once the voting period begins, if you have voting power on this chain you will be able to apportion your votes between Boosted Positions using the sliders next to each of them.
As explained in Understanding the veFlywheel, voting will only direct more matching emissions to Boosted Positions that have been sent external MAV incentives during the epoch. It is recommended to pay close attention to the Incentives column, and only vote on Boosted Positions that show incentives sent there. Any votes apportioned to a Boosted Position with no external incentives will not produce matching emissions, and are effectively wasted.
Once you've decided how to apportion your votes, click the Cast Votes button and confirm the transaction in your wallet. Each address with an eligible veMAV balance can vote once per epoch.
Voters do not receive direct rewards for voting with their veMAV. That means that a veMAV holder who sends votes to a Boosted Position does not automatically receive any rewards for performing this action. Voting simply directs more MAV from the vote-matching budget to LPs in Boosted Positions.
The most straightforward way to get rewards from voting is to vote for a Boosted Position in which you are an LP. So long as that Boosted Position has external incentives in this epoch, your votes will direct more vote-matched incentives to the Boosted Position, increasing the emissions received by you and any other LPs in the Boosted Position.
As explained in Understanding Incentives, LPs in Boosted Positions can also get a boost from holding veMAV and agreeing to stake MAV emissions to get more veMAV. Between voting for more emissions and boosts to those emissions, an LP should find a lot of utility for veMAV.
If you hold veMAV but are not interested in LPing, you may find opportunities to earn rewards by delegating your voting power to other individuals or protocols. Please follow Maverick on Twitter and join the Discord for any news on such opportunities.
