Bribe Protocol is a DeFi protocol providing DAO infrastructure tools to reward governance participation with Tokens and votes.
The protocol connects contractors who can borrow votes to support or oppose DAO proposals, aiming to foster encouraging governance and improve community engagement in the DeFi space.
MAIN CONTENT
Bribe creates a decentralized market for buying, lending, and renting voting rights in DAOs.
BRIBE Token plays a crucial role in governance and revenue sharing of the protocol.
The project is supported by several reputable investors such as Spartan Group, Dragonfly, and a visionary leadership team.
What is Bribe Protocol?
Bribe Protocol is a DeFi protocol building DAO infrastructure tools to encourage governance participation. Contractors borrow votes from those who stake Tokens to support or reject proposals in the DAO, aiming to make governance markets more transparent and accessible for all members.
The first version of Bribe (Bribe V1) integrates Voter Extractable Value (VEV) to create voting coalitions, thus auctioning and coordinating voting rights effectively in large DAOs like Aave.
What are the highlights of the project?
The uniqueness of Bribe Protocol lies in developing the voting market in DeFi – where governance rights can be bought, lent, and auctioned transparently. To date, many governance result transactions still occur discreetly among major partners, leaving most users excluded from participation opportunities.
Bribe expands access to this market, creating powerful voting coalitions and organizing public auctions, allowing everyone to benefit, not just whales.
Bribe revolutionizes decentralized governance by enabling powerful voter coalitions to auction voting power, making governance markets accessible to all, not just Whales.
Charlie, CEO of Bribe Protocol, 2022
Additionally, the protocol rewards those who stake governance Tokens with income from vote auction sessions. This stimulates participation while enhancing fairness in DAO decision-making processes, and minimizes minority issues and low participation in decentralized governance.
How does Bribe Protocol work?
Bribing operates simply through three main steps: STAKE, WAIT, EARN. Users stake BRIBE Tokens to participate in the pool, contractors borrow voting rights in the pool to bid or support proposals, and those who stake receive income from the highest bid.
Stake: Deposit governance Tokens into the Bribe pool to create a powerful voting coalition.
Wait: Contractors use this pool in vote auctions to support or oppose governance proposals.
Earn: Income from auction sessions is shared with those who stake Tokens in the pool.
What is the basic information about BRIBE Token?
Token Name: Bribe Protocol Token
Symbol: BRIBE
Blockchain: Ethereum
Standard: ERC-20
Token Type: Utility
Total Supply: 100,000,000 BRIBE
What are the utilities of the BRIBE Token?
BRIBE Token is essential for users to directly participate in protocol governance. Token holders can stake to receive voting rights as well as share in the protocol's revenue. This token represents a long-term commitment from members to the development and success of the Bribe Protocol.
How are Tokens allocated?
Ecosystem Emissions: 50%
Bribe Treasury: 10%
Liquidity Bootstrapping Pool: 2%
Private sale distribution: 20.5%
Tokens for project team: 14.5%
Advisors: 3%
What is the roadmap of Bribe Protocol?
January 2022: Token Release Event (TGE), Mainnet launch, and Aave Bribe group.
March 2022: Launch of Bribe pool for Tokemak, 1inch, substrate parachains, and cross-layer tools.
In the future, Bribe aims to upgrade auction floor prices, develop Bribe SDK, and refine multi-chain governance tools.
Who are the project team, investors & partners?
Project Team
Information on the project team of Bribe Protocol is being updated, however, the protocol is incubated by Composable Labs and Advanced Blockchain AG – reputable developers in the Blockchain and DeFi space.
Investors & Partners
Bribe Protocol successfully raised 4 million USD in a funding round led by Spartan Group. Investors include Dragonfly, Hypersphere, Fund Basic Labs, IOSG, Fenbushi Capital, Rhestone Capital, GravityX, Shima Capital, and Figment, contributing significant strategic knowledge and AAVE governance Tokens.
Creating infrastructure like Bribe will expand governance capabilities for the entire DeFi community, breaking the whale monopoly in DAOs.
Dragonfly Capital, DeFi Market Report 2022
Summary
Bribe Protocol provides an innovative solution for decentralized governance with a transparent and accessible voting rights market. BRIBE Token plays a central role in incentivizing and sharing benefits from DAO governance.
The ability to coordinate voters into powerful coalitions helps Bribe improve the quality and popularity of dGov, while attracting broad participation from the DeFi community.
Frequently Asked Questions
What makes Bribe Protocol special compared to other DeFi protocols?
Bribe is a pioneering protocol creating a decentralized market for DAO voting rights, allowing for vote auctions and rewarding participants, unlike protocols that focus solely on staking or lending.
What function does BRIBE Token serve in governance?
BRIBE Token is not only a means to stake for voting rights but also allows users to earn rewards from vote auction sessions, demonstrating its utility role and long-term contribution to the protocol.
Who is investing in and supporting Bribe Protocol?
The project is led by Spartan Group, featuring major funds such as Dragonfly, Hypersphere, Fenbushi Capital, along with the development teams at Composable Labs and Advanced Blockchain AG – ensuring expertise and potential for growth.
How does Bribe encourage user participation?
Users stake BRIBE Tokens into the pool, contractors bid for voting rights, and rewards are shared with those who stake from the highest bid, creating financial incentives for governance participation.
What does the future roadmap for Bribe look like?
The project focuses on expanding the Bribe pool for multiple platforms, building cross-layer tools, and enhancing SDK experience to create a more comprehensive multi-chain dGov ecosystem.
Source: https://tintucbitcoin.com/bribe-protocol-la-gi/
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