Gauge
Last updated
Last updated
gauge is an optional module that a pool manager can share a portion of poolManagerFees with.
The gauge plays an important role in the tentative Valantis token incentive mechanism.
feeProtocol0 and feeProtocol1 are the input variables in the Sovereign Pool function claimProtocolManagerFees that determine the percentage of pool manager fees shared with the gauge, represented in bips.
The initial Valantis incentive mechanism has not been launched, proper specs for this gauge will be released at this time. gauge can be set to any contract which benefits from having a portion of fees sent to it, such as an external protocol treasury or similarly designed token incentive mechanism. Any address can be set to gauge as long as it is able to call claimProtocolFees on the Sovereign Pool.
The Gauge’s only role is to call the claimProtocolFees. Protocol fees are incremented whenever poolManager calls the claimPoolManagerFees function, and if it chooses to allocate a non-zero portion of its earned fees into the gauge.
Note: Rebase tokens are not supported as protocol fees because pool manager fees are not incremented in the case of rebase tokens. This was a deliberate choice to yield a simpler design for the Sovereign Pool and peripheral governance contracts related to Gauges and VAL emissions.
Only protocolFactory can deploy and set a gauge for a Sovereign Pool, by calling setGauge, and it can do so only once.
