Gauges
Gauges are the central mechanism connecting veBTC holders with veMEZO voters. Understanding how gauges work is essential for maximizing your returns on Matchbox, whether you’re offering incentives or voting for rewards.
What is a Gauge?
Section titled “What is a Gauge?”A gauge is a smart contract associated with a veBTC position. It serves as the destination for veMEZO votes and the source of incentives for voters.
Think of a gauge as a “booth” in a marketplace:
- veBTC holders set up their booth (gauge) and offer incentives
- veMEZO holders visit booths and allocate their voting power
- Both sides benefit from the exchange
Gauge Anatomy
Section titled “Gauge Anatomy”Each gauge has several key attributes:
On-Chain Properties
Section titled “On-Chain Properties”| Property | Description |
|---|---|
| Gauge Address | Unique smart contract identifier |
| veBTC Token ID | The veBTC NFT associated with this gauge |
| veBTC Weight | Voting power from the locked BTC |
| Total veMEZO Weight | Sum of all veMEZO votes for this gauge |
| Boost Multiplier | Current boost level (1x to 5x) |
| Is Alive | Whether the gauge is active |
Matchbox Profile Properties
Section titled “Matchbox Profile Properties”| Property | Description |
|---|---|
| Display Name | Human-readable gauge name |
| Description | What the gauge represents or its strategy |
| Profile Picture | Visual identifier |
| Social Links | Twitter, Discord, Telegram, etc. |
| Incentive Strategy | How the owner plans to use incentives |
| Voting Strategy | The owner’s approach to attracting votes |
| Tags | Categories for easier discovery |
The Boost Multiplier
Section titled “The Boost Multiplier”The boost multiplier is perhaps the most important gauge metric. It determines how much the veBTC holder’s rewards are amplified.
How Boost is Calculated
Section titled “How Boost is Calculated”Boost depends on the ratio of veMEZO votes to veBTC voting power:
Boost = f(veMEZO Weight, veBTC Weight)More veMEZO votes relative to veBTC power = higher boost.
Boost Levels Explained
Section titled “Boost Levels Explained”| Boost | Effective Power | Impact |
|---|---|---|
| 1.0x | Base only | No veMEZO support |
| 1.5x | 150% of base | Moderate support |
| 2.5x | 250% of base | Strong support |
| 5.0x | 500% of base | Maximum (optimal veMEZO allocation) |
Optimal veMEZO Target
Section titled “Optimal veMEZO Target”Each gauge has an “optimal” amount of veMEZO votes needed to reach maximum boost. Matchbox displays this metric to help:
- veBTC holders understand how much support they need
- veMEZO voters identify gauges that could benefit most from their votes
Incentives (Bribes)
Section titled “Incentives (Bribes)”Incentives are rewards offered by veBTC gauge owners to attract veMEZO votes.
How Incentives Work
Section titled “How Incentives Work”- veBTC holder deposits tokens into their gauge as incentives
- veMEZO holders see the incentives and vote for the gauge
- At epoch end, incentives are distributed proportionally to voters
- Voters claim their earned incentives on Matchbox
Supported Incentive Tokens
Section titled “Supported Incentive Tokens”Gauges can offer incentives in:
- BTC - Bitcoin
- MEZO - Mezo native token
- Allowlisted tokens - Other approved ERC-20 tokens
Incentive Distribution
Section titled “Incentive Distribution”Incentives are split among all veMEZO voters based on their share:
Your Share = (Your veMEZO Votes / Total veMEZO Votes) × Total IncentivesExample: If a gauge has 100,000 total veMEZO votes and you contributed 5,000, you receive 5% of the incentives.
APY Calculations
Section titled “APY Calculations”Matchbox calculates APY to help you evaluate opportunities.
Current APY
Section titled “Current APY”Based on:
- Incentives already deposited
- Current voting allocations
- Your veMEZO voting power
Projected APY
Section titled “Projected APY”Based on:
- Your planned vote allocation
- Current gauge state
- Estimated weekly rewards extrapolated annually
Factors Affecting APY
Section titled “Factors Affecting APY”| Factor | Effect on APY |
|---|---|
| More incentives | Higher APY for voters |
| More competing votes | Lower APY per voter |
| Higher veMEZO power | More absolute earnings |
| Gauge performance | Consistent rewards attract more votes |
Gauge Profiles on Matchbox
Section titled “Gauge Profiles on Matchbox”Matchbox allows veBTC holders to create detailed profiles for their gauges.
Why Profiles Matter
Section titled “Why Profiles Matter”A well-crafted profile:
- Builds trust - Voters prefer gauges with clear identities
- Explains strategy - Helps voters understand your approach
- Stands out - Differentiates your gauge in the marketplace
Profile Elements
Section titled “Profile Elements”- Display Name - A memorable, recognizable name
- Description - What you’re building or your goals
- Profile Picture - Visual branding
- Social Links - Ways for voters to learn more
- Incentive Strategy - How you plan to reward voters
- Voting Strategy - Your approach to the ecosystem
- Tags - Categories like “DeFi”, “Infrastructure”, etc.
Browsing Gauges
Section titled “Browsing Gauges”On the Matchbox Gauges page, you can:
View All Gauges
Section titled “View All Gauges”See every active gauge with key metrics at a glance.
Sort and Filter
Section titled “Sort and Filter”| Sort Option | Use Case |
|---|---|
| By APY | Find highest-yielding opportunities |
| By Boost | See most/least boosted gauges |
| By veMEZO Weight | Find popular or underappreciated gauges |
| By veBTC Weight | See largest positions |
Gauge Detail Page
Section titled “Gauge Detail Page”Click any gauge to see:
- Full profile information
- Historical performance charts
- Current incentive breakdown
- Voting power distribution
- Social links and community info
Gauge Performance Metrics
Section titled “Gauge Performance Metrics”Matchbox tracks and displays several performance indicators:
Real-Time Metrics
Section titled “Real-Time Metrics”- Current boost multiplier
- Total veMEZO voting weight
- Active incentive amounts
- Projected weekly rewards
Historical Data
Section titled “Historical Data”- Daily gauge snapshots
- Boost trends over time
- Vote weight changes
- APY performance history
For veBTC Holders: Optimizing Your Gauge
Section titled “For veBTC Holders: Optimizing Your Gauge”Setting Up Your Gauge
Section titled “Setting Up Your Gauge”- Create a compelling profile
- Add initial incentives to attract votes
- Share your gauge on social media
- Monitor and adjust your strategy
Incentive Strategies
Section titled “Incentive Strategies”| Strategy | Description | Best For |
|---|---|---|
| Consistent | Same incentives each epoch | Building long-term relationships |
| Aggressive | High initial incentives | Quick boost acquisition |
| Responsive | Adjust based on votes received | Optimizing cost efficiency |
Tips for Success
Section titled “Tips for Success”- Start with clear branding - Make your gauge memorable
- Offer competitive incentives - Check what others offer
- Engage with voters - Build community around your gauge
- Monitor performance - Adjust strategy based on results
For veMEZO Holders: Evaluating Gauges
Section titled “For veMEZO Holders: Evaluating Gauges”What to Look For
Section titled “What to Look For”- Incentive amount - Higher is generally better
- Competition - Too many votes dilutes your share
- Profile quality - Indicates serious operators
- Consistency - Check historical performance
- Boost level - Under-boosted gauges may offer better APY
Red Flags
Section titled “Red Flags”- No profile or minimal information
- Inconsistent incentive history
- Very high existing vote concentration
- Unrealistic APY projections
Next Steps
Section titled “Next Steps”- Epochs and Timing - Understand the weekly cycle
- Voting Guide - Learn to vote effectively
- Gauge Management Guide - Set up your gauge