Gauge Weight
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Simply put, a gauge weight translates into how much of the PAWN reward each pool receives.
In the image above, the P-BAYC pool has 4.34% of the votes, and next week would receive 4.34% of the $PAWN incentives as a reward for contributing liquidity to that pool.
You can find each liquidity gauge relative weight on this page:
Because those weights decide where the PAWN incentive goes, it allows the community to decide where most of the liquidity should go and balance liquidity. It's a powerful tool for voters that must be used responsibly.
Since votes are reset to zero each week and the voting cycle starts again, you should revote every week to ensure your favorite lending pool have a higher gauge weight, and of course, higher PAWN incentives.