YIP 37: Participate in CRV governance and 2.5x CRV reward boost
| Author | Andre Cronje, Artem K |
|---|---|
| Discussions-To | https://gov.yearn.finance/t/pre-crv-rewards-distribution-liquidation-or-boost/2481 |
| Status | Implemented |
| Created | 2020-08-17 |
Summary
Use early LP rewards to enable YFI holders to participate in Curve DAO governance and vote-lock them for 4 years to boost yVault CRV generation by up to 2.5x.
Abstract
All vested CRV tokens earned by StrategyYfii will be vote-locked to give YFI holders voting rights in Curve DAO and to boost the rewards earned by yCRV pool.
Motivation
yVault currently holds 609,688 CRV with 1 year linear vesting. Starting August 28th, 2020, we can leverage these rewards to increase CRV generation and greatly incentivize capital inflow into Yearn.
Specification
Overview
Funnel all the vested CRV into 4 year vote lock and enable delegated voting with it with YFI.
Rationale
Forum poll snapshot:
- 80% Participate in CRV governance and 2.5x boost
- 12% Distribute to YFI treasury and holders
- 8% Distribute to yVault LPs
Technical Specification
- Total early LP CRV rewards collected: 609688.7992009243
- 0x8816B2Fb982281c36E6c535B9e56B7a4417e68cF = 1606.9780365084564
- 0xBE197E668D13746BB92E675dEa2868FF14dA0b73 = 39433.37196717059
- 0x2De055fec2b826ed4A7478CeDDBefF82C1EdFA70 = 568648.4491972453
- Vesting: from 2020-08-13 to 2021-08-13
- Unlocked per day: 1670 CRV
Copyright
Copyright and related rights waived via CC0.