5/15/2023 0 Comments Redacted cartel![]() Proposed gauge weights for November 4th 2021. Those weights represent how much of the daily CRV inflation will be received by the liquidity gauge. The liquidity gauge measures how much a user is providing in liquidity. The inflation of the CRV token goes to users who provide liquidity. The most active part of the governance is the gauge mechanism. Another benefit for veCRV holders is the right to receive fees generated by the liquidity pools, in addition to deposit and withdrawal fees. At the time of writing, 47% of all circulating CRV is vote-locked for an average of 3.6 years. The longer the CRV is locked, the bigger the “boost” (up to 2.5x), which means that the user receives more veCRV, which aligns long-term stakeholders with the protocol's success. Users can lock CRV for a minimum of a week and up to four years. The longer the lock-up period, the greater the voting power and the larger the rewards. Votes and rewards are weighed by both the quantity of tokens and the duration for which the tokens are time-locked. Token holders are required to lock CRV for veCRV ( vote-escrow CRV) which acts as the illiquid access token to the governance mechanism. Like most tokens in DeFi, CRV has its main use case in governance over the protocol. Just over a year ago when the Curve governance token first released, the protocol started issuing CRV rewards to LP holders in order to accumulate more stablecoins and fees which in turn, further bolstered Curve as the hub for high liquidity, efficiency, and yield. ![]() Using concepts from the Olympus model, we will make a blackhole for CRV, CVX, and Curve LP tokens and manifest a DAO that has a majority say in the Curve gauge? The first DAO political party? ██████? Gauge-as-a-service? Why not? The cartel does not aim to act maliciously, rather gamify and decentralize the process of bribing the gauge through a DAO. REDACTED Cartel is an initiative using the POL mechanics of OlympusDAO to accumulate as much liquidity as possible from the Curve ecosystem in order to have a majority say over the Curve gauge. Being the black hole for liquidity that it is, anyone who has experimented with DeFi protocols, will find that quite a few of those DApps use Curve to source liquidity and yield without you even recognizing it. Yet, many participants are not aware of the full extent of Curve’s influence in DeFi. In its short lifespan, Curve Finance has established itself as one of the key building blocks in the DeFi ecosystem, utilizing its DAO and gauge mechanism as a gatekeeper for success among some of the fastest growing protocols in DeFi such as Convex and Abracadabra.
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