ProtoDAO: PIP-03 - Beta Gauge System

Dear ProtoFi Community,

Welcome to our third governance vote!

This proposal delineates the proposed functioning of the beta version of our Gauge Voting system.

All Electron Holders and Stakers will be able to vote, every two weeks, on the allocation of $PROTO incentives.

The $ELCT emission will continue to be decided by the team and the Quantum Supply mechanism, and will never be lower than 60% of total emissions.

As you already know, each Fusion/Particle Pool has its own dedicated Proto Emission.

At the time of this writing, there are 30 Pools, 29 in Fusion and 1 in Particle.

Every time a new pool is created, the team allocates a specific multiplier based on variables decided internally.

After the beta Gauge starts, every Fusion/Particle pool will have a range of MINIMUM and MAXIUM multipliers allocated. These will be calculated as follows:

MINIMUM = [MultiplierAllocatedByTheTeam / 2] MAXIMUM = [MultiplierAllocatedByTheTeam * 1.5]

For example:

The ETH/FTM LP farming pool has a MultiplierAllocatedByTheTeam = 5 The Minimum amount is 5 / 2 = 2.5 The Maximum amount is 5 * 1.5 = 7.5

The MultiplierAllocatedByTheTeam number can change over time based on the Quantum Supply Mechanism and other variables.

What this means is, if a pool does not get any gauge votes, the lowest its multiplier can drop is by half of its base multiplier, which is the multiplier initially allocated by the team. If a pool gets 100% of the votes, the highest its multiplier can increase is by 50% of its base multiplier.

The team will redistribute the spare Multipliers remaining after applying the above formula.

This is a BETA. A fully working Gauge/Voting with veELCT system will be available soon.

Below you'll find the excel formula used to calculate the multiplier allocation, listed for the sake of completeness:

IF(MROUND(MIN(MAT1.5, VotesMultiTot),0.25)> MAT/2, MAT*1.5,Votes * MultiTOT),0.25), MAT/2).

Where : MAT = Multipliers Allocated by the Team Votes = % of Votes Allocated MultiTOT = Total Fusion and Particle Multipliers