Removing 'Epoch' Systems
To address the inefficiencies noted previously, we've established a voting system that does away with the conventional 'Epoch' concept. The new system functions as follows:
Real-time Bribe Mechanism
The bribe system consists of an internal bribe (swap fee) and an external bribe (provided by the protocol aiming for emission). While traditionally these were granted at the end of an epoch, our system now rewards them instantly and continuously at a predetermined rate.
External Bribe
When introducing an external bribe, a project can offer rewards via a linear distribution, where rewards are steadily distributed to maintain the emission process. To prevent a flood of worthless external bribes, bribers must use a certain number of VC tokens to register new tokens as external bribes.
Internal Bribe
The internal bribe is distributed using an exponential decay method with a half-life of three days. (This may be subject to change based on market dynamics.)
Vote & Reward distribution
As soon as you cast a vote for a pool, reward distribution commences as if you were farming, with the rewards dynamically increasing as trading fees or external bribes are added. Conversely, if a voter selects a pool to obtain this reward, emissions are proportionally redirected based on that pool's share of the total votes across all pools.
Moreover, should you inadvertently vote for a pool that doesn't align with your preference or if you change your decision, you have the freedom to switch to a more favorable pool at any time. Our epochless voting system introduces a level of flexibility and responsiveness that promotes efficient reward distribution and user-friendly engagement.
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