Important to note: Vote locking boost which will increase your CRV rewards will be enabled two weeks after launch (28th of August around 1am UTC).
You can find more information about the reward boost by clicking here.
Curve Finance native token CRV will, amongst other things, allow users to submit proposals, adjust different parameters for pools and essentially be in control of the Curve Finance protocol.
It's important to note that new proposals cannot submitted until enabled by the Emergency DAO.
Once you have found a proposal you wish to vote on Curve DAO, simply click on it and select your vote option. Each proposal will have a corresponding discussion channel on Discord if you wish to find out about it.
The locking mechanism explained below allows all users on Curve to increase their voting weight by locking their CRV.
Vote locking is a mechanism that allows users who want to be invested in the future development and decision making of Curve to increase their voting weight by locking their CRV.
You can select the amount of CRV to lock as well as how long you wish to lock them for. It's important to note that you cannot decrease your lock time. Once you lock your tokens you cannot access them until they become unlocked.
What are the requirements for submitting a proposal?
Initially, you will need to lock the equivalent of 10,000 CRV for a year (or 20,000 for six months for example) to reach a voting weight of 2,500 veCRV and be able to submit proposals. This can be changed with a governance proposal.
You will then be allowed to submit a proposal twice a day, something that can also be adjusted by the DAO.
Can I decrease my lock time?
No. Locking your CRV is irreversible.
The most important reason you'd want to vote for is to help Curve Finance become a fully decentralised protocol but vote locking also increases your CRV rewards you get from providing liquidity.
By vote locking, you can multiply your CRV rewards by up to 2.5x.
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