Rewards Manager
Rewards Manager for the Algofi governance.
The Rewards Manager is a smart contract that handles the allocation of BANK emissions to the various lending markets and staking contracts available throughout the Algofi protocol. Every period (e.g. 2 weeks), users who have locked BANK in the Voting Escrow vote by allocating their veBANK across Algofi's markets and staking contracts that are emitting BANK. At the end of the voting period, the sum of the veBANK users allocated across all the markets and staking contracts is calculated. Further, the amount of veBANK allocated to each market or staking contract is tallied. The amount of BANK emitted to a particular market / staking contract is calculated as:
veBANK allocated to contract / total veBANK allocated to BANK-emitting contracts
Thus, if 10% of the veBANK is allocated toward the USDC market, 10% of the BANK for that period is emitted to the USDC market for distribution during the following period.