Gauge votes
Last updated
Last updated
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.
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:
veSDT
will be used to vote for the cvgSDT/SDT
gauge;
veSDT
will be used to vote for gauge_A
;
veSDT
will be used to vote for gauge_B
;
veSDT
will be used to vote in the best interest of both Stake DAO and Convergence protocols, as well as cvgSDT
stakers;
veSDT
will be used to vote for gauge_A
;
veSDT
will be used to vote for gauge_B
;
veSDT
will be used according to delegated votes.