Voting

bWRN holders direct WRN emissions by voting on gauges each epoch. Voting also entitles them to a share of the swap fees and bribes collected by the gauges they supported.

Epoch structure

Voting runs in weekly epochs. Each epoch consists of:

1. Open phase — voters allocate (or re-allocate) their bWRN voting power across one or more gauges.
2. Snapshot — at epoch close, the protocol takes a snapshot of every voter's allocation and computes the final gauge weights.
3. Distribution phase — emissions, fees, and bribes from the closed epoch are made available for claim.

Voters can update their allocation freely during the open phase. The snapshot determines what counts.

Vote weight

A voter's weight is equal to their bWRN balance at the snapshot block. Vote weight scales linearly — there is no boost, no decay, no time-since-deposit multiplier. bWRN is a deposit-only ERC4626 share token (see bWRN), so a holder's weight is simply the number of shares they hold.

Vote allocation does not have to be 100% — voters can leave a portion of their weight unallocated. Unallocated weight neither directs emissions nor earns rewards.

What voters earn

For every gauge a voter supported in the closed epoch, they receive a pro-rata share (by their share of that gauge's total votes) of:

• 90% of swap fees collected by the gauge's pool during the epoch. The remaining 10% is the protocol rake (governance-adjustable). LPs do not receive swap fees directly under Warren's noFeesToLP mode — voters do.
• Bribes deposited into the gauge for that epoch by external protocols. See Liquidity Rental.

Rewards are claimable at the start of the next epoch. Unclaimed rewards remain claimable indefinitely.

Worked example

Suppose at epoch close:

Gauge	Total votes	Your votes	Pool fees	Bribes
Pool A	500,000 bWRN	50,000	10,000 USDC	2,000 USDC
Pool B	200,000 bWRN	20,000	4,000 USDC	0

You held 70,000 bWRN, allocated 50,000 to Pool A and 20,000 to Pool B.

Your share of Pool A = 50,000 / 500,000 = 10% →

• 10% × 10,000 USDC × 90% = 900 USDC in fees
• 10% × 2,000 USDC = 200 USDC in bribes

Your share of Pool B = 20,000 / 200,000 = 10% →

• 10% × 4,000 USDC × 90% = 360 USDC in fees

Total claimable: 1,260 USDC plus your share of any WRN emissions allocated to you separately (if applicable).

Vote re-allocation

You can change your allocation any time during the open phase by submitting a new allocation transaction. Only the allocation in effect at the snapshot counts toward that epoch's distribution.

Switching allocation has no penalty other than gas — Warren does not impose vote-locking or cooldowns at the gauge level. bWRN itself is a deposit-only ERC4626 share, so the only real "lock" is the irreversibility of the initial WRN deposit.