Bribe plans to leverage Picasso to permit substrate-based cross-chain, cross-layer governance
In a gesture of goodwill, we are pleased to announce a giveaway with Bribe Protocol, a new DeFi protocol that will leverage Picasso’s network to incentivise governance participation in the near future. The NFTs are named “Deserter” and “Informant”, both hand-drawn PFPs portray BRIBERZ working to expose bribery occurring behind closed doors in DeFi.
Bribe Protocol is launching in Q1 2022 to bring incentivised governance to Aave. Later, Bribe will connect with Mosaic powered by Composable SDK to help drive liquidity to the strategies and will deploy on Picasso as a pallet after. This enables Bribe to permit substrate-based cross-chain, cross-layer governance to other natively interoperable pallets within Picasso as well as Cosmos ecosystem through the Centauri bridge.
About Bribe
Over the past month, Bribe has been actively posting more information on their Medium regarding their technical roadmap and their role in DeFi’s latest trending topic; the ongoing liquidity wars.
Bribe improves upon current DAO governance models by coordinating voters into powerful coalitions up for auction. Bribe’s first product to incentivise participation is Voter Extractable Value (VEV), compensating retail holders of governance tokens by delegating their votes to the highest bidder.
Due to the early stage of development for many token markets, large sums of governance tokens required to influence DAO outcomes are not typically available on open markets like Aave or Tokemak. Instead, these deals tend to happen over-the-counter, between trusted counterparties. In short, “bribery” already happens, but most protocol users are left out; essentially, Bribe are providing the opportunity for users to earn income from these bribes.
Use cases for Bidders
By using Bribe, users can leverage voting power without transaction fees, slippage and searching through multiple exchanges for liquidity; this ensures that strengthened influence in DAO governance becomes more accessible and readily available. With Bribe, the possibility of accessing the voting power (to support or reject a proposal) of the Bribe pool can be achieved by airdropping USDC, rather than accumulating large amounts of DAO tokens. Regarding this, an individual is also able to vote on either one proposal or several, as they see fit.
Use cases for Stakers
Making use of Bribe allows for incentivization of DAO governance participation. This is achieved by coordinating voters into powerful coalitions (Bribe pools), putting them up for auction. The process is simple; stake your governance tokens and wait, and your earnings will soon follow.
Stakers are rewarded with a combination of USDC (from winning bids) and $BRIBE. Furthermore, anyone can participate in Bribe’s governance markets, not just whales.
How To Enter The Giveaway:
- Follow @Picasso_Network @ComposableFin @ComposableL & @BribeProtocol on Twitter
- Like & RT the official Composable give-away tweet
- Comment #BRIBER on the giveaway tweet to let us know you are participating
For more information about Composable and how it is architecting the unified DeFi landscape of the future, check out our socials:
Twitter | Telegram | Discord | Website | GitHub | LinkedIn
Composable x Bribe NFT Giveaway was originally published in Composable Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.
