Intro to voting gauges
Voting gauges are a dynamic on-chain voting system where votes are tallied and implemented in real time. The key difference between gauges and typical governance proposals is that users can modify their votes after casting an initial vote at any time. The system records and reflects all changes immediately.
Through Platypus Finance’s voting gauges, vePTP holders can vote to allocate PTP emissions to liquidity pools on Platypus. This mechanism opens the floodgates to competing stablecoin and liquid staking protocols, who either bribe vePTP holders to vote for their pools or build a position in a yield boosting protocol such as Echidna to obtain influence over Platypus’ gauges.
As one of the largest PTP and vePTP holders, Echidna’s voting power on Platypus Finance is democratized among all ECD tokens. ECD holders are direct beneficiaries of all bribes received through Echidna’s vePTP. To become eligible for bribes, lock your ECD for veECD and exercise your votes using Echidna’s voting gauges. Your votes on Echidna’s gauges affect Platypus’ gauges in real time by way of Echidna’s vePTP.
Echidna’s gauges are fully on-chain and operate in real time. Click here for a detailed step by step guide.