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Emission Votes and Gauge Weights
Prisma's governance allows vePRISMA holders to vote on how PRISMA emissions will be distributed by assigning weights to each emission stream's "gauge". As a holder of vePRISMA, Convex Finance can participate in these voting procedures, and these voting rights are passed on to vlCVX holders.
- Gauge weight votes will be done weekly, starting Thursdays at 00:00 UTC and ending on Tuesdays at 00:00 UTC.
- Individual vlCVX holders may spread their votes among multiple pools in the gauge weight vote.
- For emission votes, Convex may allocate up to 20% of the protocol’s vePRISMA for strategic reasons such as optimizing liquidity. The rest of the votes get distributed proportionally according to vlCVX votes.
Weekly emissions votes determine how much a certain action within the Prisma Protocol will be incentivized with PRISMA tokens. Across the Prisma protocol, there are four types of actions that are incentivized with PRISMA tokens.
Named "Stability Pool" within the Weekly Emissions Votes. It determines how much PRISMA will be directed towards incentivizing stability pool mkUSD depositors.
Rewards are distributed proportional to how much mkUSD is deposited in the stability pool and streamed over time.
Named "debt-token" within the weekly emissions votes. It determines how much PRISMA will be directed towards incentivizing having a vault with an active debt position with a particular collateral.
Rewards are distributed proportional to how much MKUSD debt has accrued and streamed over time. The emissions affected by this vote are highlighted below.
Named "mint-token" within the Weekly Emissions Votes. It determines how much PRISMA will be directed towards incentivizing new mkUSD minting with a particular collateral.
Rewards are distributed proportionally to how much new mkUSD users have minted in a day and given as a lump sum at the end of the day. The emissions affected by this vote are highlighted below.
Named "LPTOKEN--Curve/Convex" within the Weekly Emissions Votes. It determines how much PRISMA will be directed towards incentivizing and staking these LP positions on Prisma.
Rewards are paid out proportional to how much LP tokens are deposited and streamed over time.
- Stability pool liquidity is crucial for the health of the Prisma Finance protocol. Consider prioritizing voting with greater weight for the stability pool when liquidity is below optimal for this pool.
- When a vault is at or near new mkUSD capacity, consider voting with less weight for the "mint-TOKEN" option and direct their votes to other options.