November Update: Voting Incentives, Community Contributions, Next steps
Voting Incentives: A quick primer
As Convex Finance has gained a significant share of locked CRV tokens, one of the primary utilities of the CVX token has started to show its strength: Curve.fi gauge-weight votes. CVX vote-lockers on Convex can allocate their vote-weight towards Curve pools they hope to see a higher proportion of CRV token emissions directed towards.
With the rise of Convex’s gauge-weight, projects like Frax, Badger, Spell, and more have shown interest in gaining CVX and incentivizing vlCVX to increase their CRV allocation. Increasing CRV rewards on gauges can drastically increase liquidity for these projects.
With the launch of both bribe.crv.finance and Votium, users are able to receive incentives for allocating their vote-weight towards specific Curve pools. DAOs, projects, and individuals have the ability to post incentives, to be paid in the token of their choice, to those individuals who vote for specific pools.
What does this mean for CVX vote-lockers?
- All CVX vote-lockers have access to incentives from bribe.crv.finance. These incentives are distributed amongst all vote lockers each gauge-weight vote based on your vote-weight, regardless of whether or not you individually vote. These rewards are claimable on convexfinance.com/claim under Locked CVX -> Extra Incentives
- In order to be eligible for additional incentives claimable on Votium, you must vote for those pools that have Votium incentives posted, or delegate your vote-weight to the Votium team. Per Votium documentation, Votium will work to optimize all delegated CVX vote-weight in order to maximize their users’ overall rewards. Read and understand Votium documentation before delegating your vote-weight
Data Driven: Convex Finance gets community-made Dashboards and Tooling
An awesome DuneAnalytics dashboard created by MarcoV highlights some impressive and interesting statistics:
- Over 140M CRV locked as cvxCRV
- Over 25M vote-locked CVX tokens eligible to participate in Snapshot Votes
- New highs in daily revenue earned; total platform revenue now exceeds $490M since launch
Llama.Airforce Reporting for Duty
Early community contributor Alunara created an excellent website/dashboard to visualize Convex Finance pool statistics. Users can chart APR and TVL changes over time at the individual level.
Additionally, this dashboard is also useful for monitoring how the voting incentive system and Votium impact results for gauge weight votes. Users can review prior votes and get a full picture of all incentives for the different pools.
Convex gets its own Valkyr-Ξ : Meet Cagi
We’re excited to highlight this amazing NFT made in the spirit of locking. Cagi is one of the latest in the Valkyrie series, and it couldn’t have turned out better. From the artist:
“With this Valkyr-Ξ, I aimed to showcase Convex’s key feature: locking. Tiny locks and keys serve as accessories and clothing details. I also wanted Cagi to exude power and charm, with a touch of regal modernity. The clothing, a mix of sleek and flamboyant, convey this idea and combine both Curve and Convex color palettes. Finally, I’ve made Convex’s emblematic “C” a cornerstone of Cagi’s various accessories, as seen in her geometric heels and holographic bracelets.”
Zerion Adds Support for Convex
You can now track your Convex Finance positions on Zerion! Zerion makes it easy to see a summary of your staked tokens, locked CVX, or LP positions in an intuitive interface.
OKEX Lists CVX
OKEx recently listed the CVX token! Users who prefer centralized exchanges can now buy/sell CVX on OKEx rather than on-chain.
Notable and Upcoming UI Updates
- It’s now possible to “Claim and Lock” in one button press on the “Claim” page.
- A more detailed description of Current/Projected APR will soon be live on all pools.
- Additionally, advanced filtering/sorting for all pools will soon be available to help sift through the long and ever-growing list.
- Curve has begun the process of releasing v2 pools, starting with CRV/ETH. This will be the first of many future pools! The process of adding these pools to Convex will remain the same, and there are plans to support all pools that receive a gauge.
- As of now, boosted CRV rewards for LP’s remains only on Ethereum main-net. Multi-chain boosted rewards remain on the radar for the future.
Follow us on Twitter and Join us in Discord!
Telegram Ann: http://t.me/ConvexEth
Telegram Chat: http://t.me/convexEthChat