📊 TRADING & AMMS
Gauge (Gauge (Voting))
Definition
A gauge is a smart contract mechanism used in protocols like Curve and Velodrome that directs token emissions to specific liquidity pools. Token holders (usually veToken holders) vote on gauges to determine how rewards are distributed across pools. Gauge voting is central to the ve(3,3) tokenomics model and is the primary battleground in the so-called 'Curve Wars.'
Example
Example
veCRV holders vote on Curve gauges every week to direct CRV emissions to their preferred pools, incentivizing liquidity where it's most needed.
Risks to Consider
Risks
- Vote buying via bribes
- Centralization of voting power
- Emission dilution
Common Questions
Why do gauges matter?
Gauges determine where token rewards flow. Controlling gauge votes means controlling liquidity incentives, which is why protocols compete aggressively for voting power.
