veCRST
Amplifying Governance
veCRST
is the vote-escrowed version of CRST
. Users can lock their CRST
tokens for up to 2 years to receive veCRST
. The longer the lock, the higher the veCRST
voting power received.
To encourage continuous locking and sustained participation from stakeholders, the veCRST
balance of users declines over time until it reaches zero at the conclusion of the initial locking period. veCRST
positions can be increased, split, and resold on a secondary market.
veCRST Utility
Protocol revenue access:
veCRST
holders can vote for gauges on a weekly basis, and access 80% of the trading fees and 100% of the protocol incentives for the associated pool.
veCRST voters receive:
Trading fees generated by the pool(s) they vote for
Bribes deposited for the pools they vote for
Weekly veCRST distribution (rebase)
veCRST Specifications
ve(3,3) Mechanics: The Olympus DAO combined with Curve's vote-escrow model as in the Solidly-initiated ve(3,3) concept.
Gauge: A pool with dynamic
CRST
rewards based onveCRST
weekly voting allocation. No negative voting.Protocol Incentives: Custom token amounts paid by third parties on a gauge to
veCRST
holders in exchange for their votes.Max Lock: 2 years.
Flexibility: veCRST positions can be merged, split, and sold on the secondary market.
veCRST holders play a crucial role in determining the allocation of emissions among liquidity pools during each epoch. Emissions are distributed proportionally based on the total votes received by each liquidity pool. Voters receive 100% of the trading fees and bribes collected from the liquidity pool they have voted for.
Rewards
Voting yields several benefits:
Casting your vote before the epoch snapshot is crucial to qualify for rewards. Voting transactions incur gas fees. If you skip voting in any week, rewards still go to the gauge but you will miss out on your proportional share.
Last updated