Overview
What is Topaz?
Topaz is a ve(3,3)-style AMM and liquidity governance protocol on BNB Chain. It enables protocols, projects, and liquidity providers to coordinate sustainable, incentive-aligned liquidity through transparent vote-markets.
The Problem
Most AMMs spray emissions blindly at liquidity providers, creating a mercenary farming culture where TVL chases yesterday's yield and leaves the next day. Protocols spend millions on liquidity that evaporates the moment incentives stop.
The result: a race to the bottom on incentives, zero long-term alignment, and protocols perpetually paying more for less real liquidity.
The ve(3,3) Solution
ve(3,3) — vote-escrowed, (3,3) alignment — flips the model. Instead of spraying emissions, the protocol lets token holders vote on where liquidity incentives flow, creating a competitive, market-driven system.
TOPAZ token holders lock their tokens to receive ve(vote-escrowed) power. The longer the lock, the more voting power. ve holders vote weekly on which liquidity gauges receive TOPAZ emissions.
The Flywheel
Vote
veTOPAZ holders direct emissions to preferred gauges and earn trading fees + bribes from those pools
Bid
Protocols bid bribes to attract votes to their pools
Provide
LPs stake in gauges and earn TOPAZ emissions directed by voters
Commit
Participants lock TOPAZ for veTOPAZ to gain voting power and fee earnings
Grow
Better liquidity → better execution → more volume → stronger fees for voters
Bribe Markets
The key innovation in ve(3,3) is the bribe market. Any protocol or project that wants to secure gauge votes can deposit bribes into a dedicated market. ve holders see the bribe returns per gauge and vote to maximize their income.
This creates a direct, transparent market for liquidity: protocols pay exactly what the market determines their votes are worth, and emissions flow to the pools that generate the most real fee revenue and strategic value.