Author: 71sim12
Sources: Votemak Medium
Votemak is the bribe facilitator of the Tokemak ecosystem. Votemak lets protocols bribe $TOKE holders to vote for their reactors via smart contracts. Protocols put up bribes in any ERC20, and $TOKE holders can collect those bribes after voting. Votemak contracts are forked from Votium as 5% of their net profit will be shared with their team.
Protocols can visit votemak.com where they can select which reactor they want holders to vote for, and then deposit a bribe into the smart contract. Protocols are able to upload multiple bribes before the voting deadline. The website keeps track of the total bribes for each reactor.
After the vote ends, the Votemak team will initiate the distribution and voters can collect their piece of the bribe.
Voters should look at which reactors already have votes and vote based on which bribe will pay them the most per vote.
For voters there is no cost to using votemak, instead the team makes money by taking a 4% fee from each bribe.
Owning a reactor is valuable for a protocol, and the only way to get one is to have TOKE holders vote to give you one. In previous voting rounds, TOKE holders got nothing for these votes, but now with Votemak they can offer their votes to the highest bidder.
TOKE holders should ensure they are getting paid before giving a reactor to a protocol because they have to pay emissions to that protocol when the reactor goes live.
If a protocol gets a reactor - that is, in perpetuity - its holders obtain TOKE emissions for free. On top of this, reactors provide a use-case for the protocol tokens and liquidity direction to provide protocol liquidity.
The biggest risk to protocols is they may not bribe enough. There are no refunds for bribes. Therefore, if a protocol bribes but does not win, they will lose those funds to the voters that gave them votes, and may need to bribe again next cycle to try and win a reactor.
In an effort to place at the forefront of the imminent TOKE wars, the Redacted cartel conducted a strategic acquisition of the bribe facilitators for Tokemak reactors, Votemak.
Last CORE event, Votemak generated over $130,000 of profits from over $2M in bribes and we expect the bribe amounts to be higher in future rounds (just as convex bribing played out). Votemak is currently the leader in the space and the clear decider of 3 of the 5 reactors from the last vote.
Ok ser, but why?