Bedrock DAO veModel

1. Overview

The Bedrock DAO’s veModel (Voting Escrow) system is designed to enhance governance efficiency and incentivize long-term participation in the Bedrock ecosystem. Users can convert BR tokens to veBR tokens at a 1:1 ratio at any time, granting them governance voting power within the DAO.

This system aligns incentives, reinforces liquidity, and supports BTCFi 2.0’s governance evolution.

1. Key Features

• Gauge-based governance model: veBR holders can vote on different gauges that incentivize various DeFi pools.

• Long-Term Governance Incentives: Rewards users who lock BR for longer periods.

• Seasonal Reset Mechanism: Periodic reset of voting power to ensure fair governance participation.

• Configurable Governance Parameters: Ensures adaptability and sustainability in the voting mechanism.

1. Governance System & Voting Mechanism

• Gauge-based governance model

The Gauge-based governance model is a decentralized decision-making framework designed to allocate resources or influence within a community or organization. Stakeholders can vote on the distribution of resources, such as funding or rewards, to different projects or initiatives.

Key features of the Gauge-based governance model include:

1. Voting with Tokens: Stakeholders use their veBR to vote on various gauges or proposals. The weight of their vote is typically proportional to the number of tokens they hold or have staked.

2. Incentive Allocation: The primary purpose of the gauge model is to allocate resources (e.g., BR emission incentives) to different Defi pools or initiatives based on the outcome of the voting process.

3. Decentralization: The model promotes decentralization by allowing a broad base of stakeholders to participate in decision-making, rather than concentrating power in the hands of a few.

4. Transparency and Accountability: Votes are recorded on the blockchain, the process is transparent, and stakeholders can be held accountable for their decisions.

5. Incentivization: The model is rewarding voters with veBR or other benefits for their involvement in the governance process.

Overall, the Gauge-based governance model aims to create a more democratic and efficient way for communities to make collective decisions, ensuring that resources are allocated in a manner that reflects the preferences and priorities of the stakeholders.

• veBR Token Mechanics

  • Conversion: Users can convert BR to veBR at a 1:1 ratio.

  • Locking Mechanism: Users must lock BR in escrow to receive veBR and gain governance power.

  • Voting Rights: veBR holders can vote on governance decisions, including gauge incentives.

  • Seasonal Resets: Voting power resets at the end of each season to maintain a level playing field.