▶️Magic LUM Voting
Last updated
Last updated
Magic LUM holders can vote every two weeks on the selection of LP pairs to which the LUM emissions are to be distributed. Each Magic LUM lock position needs to be voted seperately. The voting will decide which pools receive LUM emissions and how much.
The sum of all Magic LUM votes over time will create the LUM emission percentage for all farms. A pool needs a minimum 50 Magic LUM sum to be applicable for the farm LUM emissions.
Only valid Magic LUM Staking Position are allowed to vote. The overall lock needs to be longer then 90 days and the remaining lock period needs to be longer then the epoch time. 1 Magic LUM = 1 Vote
The pools which have earned the most fees in the last two weeks bring the most benefits for the Magic LUM stakers. Therefore, taking no bribes into account, these pools are the most profitable to vote for.
To earn maximum bribe rewards from any pool in the epoch, you must re-cast your vote each epoch.
The earlier you vote in an epoch, the more of the possible bribe rewards you will get. Voting late in an epoch will subject you to a greater vote decay.
Its generally recommended to vote in the first to days of the epoch to wait for the best bribe offerings to show up.
Bribes as an additional incentive to vote can be claimed 24-48 hours after an epoch has ended. Voters can claim the rewards until the next epoch is ended. Unclaimed rewards will be sent back to the briber.
There are 3 types of rewards with the MagicSea protocol:
The emissions are reserved for LP providers and are distributed over each epoch based on Magic LUM votes before the start of the new epoch.
Fees are generated each time a trade is completed on the exchange. These fees are then streamed back to Liquidity Providers and Magic LUM stakers.
Lastly bribes are an additional opportunity for anyone holding Magic LUM. Bribes are potentially allocated to incentivize voters to vote for that pair.
The bribes accrue and are only available for claim after the epoch snapshot is taken. They are proportionate to your voting power cast to the relevant epoch.
