Gauge votes

As a veSDT holder, Convergence can vote on Stake DAO's gauge weights. The voting power held by Convergence is delegated to CVG, via the mgCVG locking primitive.

Voting rules

• Votes will be cast bi-weekly on Snapshot, starting on Tuesday at 12:00 UTC, and ending next Tuesday at 12:00 UTC;

• A 15% cut on the total veSDT voting power is taken by Convergence, in order to incentivize the cvgSDT/SDT stable pool;

• mgCVG holders may spread their votes among multiple gauges;

• A gauge must receive at least 0.1% of the total mgCVG supply for veSDT weight to be assigned;

• veSDT votes will be deployed, proportionally weighted to mgCVG votes;

• If some mgCVG aren't used to vote, underlying veSDT votes will be casted, proportionally weighted to mgCVG votes;

• Delegated mgCVG votes will be used in the best interest of cvgSDT stakers, but also of Stake DAO and Convergence protocols.

For example, in the situation where:

• Convergence owns 1,000 veSDT;

• The mgCVG total supply is 1,000;

• 250 mgCVG voted for gauge_A;

• 500 mgCVG voted for gauge_B;

• 200 mgCVG are delegated;

• 50 mgCVG are unused.

The veSDT voting power will then be deployed as follows:

• $1000 * 0.15 = 150$ veSDT will be used to vote for the cvgSDT/SDT gauge;

• $250 * 0.85 = 212.5$ veSDT will be used to vote for gauge_A;

• $500 * 0.85 = 425$ veSDT will be used to vote for gauge_B;

• $200 * 0.85 = 170$ veSDT will be used to vote in the best interest of both Stake DAO and Convergence protocols, as well as cvgSDT stakers;

• $50 * 0.85 * \frac{250}{250+500+200} = 11.18$ veSDT will be used to vote for gauge_A;

• $50 * 0.85 * \frac{500}{250+500+200} = 22.36$ veSDT will be used to vote for gauge_B;

• $50 * 0.85 * \frac{200}{250+500+200} = 8.94$ veSDT will be used according to delegated votes.