Magic LUM Voting
Last updated
Last updated
Magic LUM holders can vote every two weeks for v2 and LB pools to decide on which 30% of LUM emissions should 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 within on epoch will define the LUM emission percentage for all farms. A pool needs a minimum of 500 Magic LUM votes to be applicable for a LUM farm.
Eligibility requires a 90-day MLUM lock: Only MLUM staked with at least a 90-day lock period is eligible for voting and your pending lock time needs to be longer than the Epoch duration.
Vote with MLUM:
To participate in voting, you must lock your MLUM tokens for at least 90 days. Locked MLUM provides voting power to decide how 30% of liquidity emissions (LUM) are distributed among different liquidity pools.1 MLUM = 1 Vote, no matter the lock.
Each MLUM NFT position needs to be voted separately for each epoch. You can only cast your votes per MLUM NFT position once per epoch. If you don't use 100% of your voting power, the remaining voting power will be lost for this epoch for this NFT position.
Voting Epochs: Each voting period, or Epoch, lasts two weeks. During this time, MLUM holders can vote for their preferred liquidity pools.
Time sensitive Voting for Bribes: Your earned bribes within an Epoch depends on when you cast your vote. The earlier you vote in an Epoch, the more you earn from a bribe (linear decline).
LUM Farm Activation: After an Epoch ends, votes determine which liquidity pools receive a LUM Farm. A minimum of 500 Votes is required to get a LUM Farm. The LUM farms go live shortly after the epoch ends.
The pools which have earned the most fees in the 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.
Check Bribe Listings: Protocols will post bribes tied to specific liquidity pools in the voting dashboard.
Vote Strategically: Cast your vote for the pools earning you the highest fee share for your liquidity or that offer the most appealing bribes.
Vote Early: As earlier you vote for a pool which has a bribe, as more you will get from the bribe amount. There is linear decline in the bribe payout to incentivise early voting.
Collect Rewards: Once the Epoch ends, you’ll receive the bribes associated with the pools you supported and the farms go live if they cross the 500 MLUM benchmark.
Everyone can add bribes: Bribing is fully permissionless, if you want to bribe any pool, you can do so.
Only Whitelisted token: Only whitelisted token can be used for bribing. If you want to see your token in this list, please contact the MagicSea team.
Bribe before Epoch starts: Only bribes which are submitted before the epoch are included. Within the epoch, no further bribes can be added. If bribes are submitted while an epoch is running, they will be included for the next epoch.
Shape Liquidity Allocation: Your vote directly influences where LUM rewards are distributed, helping your preferred pools thrive.
Earn Bribes: Maximize your returns by aligning your votes with the most lucrative bribes.
Strengthen the Ecosystem: By participating, you contribute to a robust and efficient liquidity distribution process on MagicSea.