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Understanding crv

The main purposes of the Curve DAO token are to incentivise liquidity providers on the Curve Finance platform as well as to involve as many users as possible in the governance of the protocol.

Currently, CRV has three main uses:

  • Rewards
  • Boosting
  • Voting

These three functions will require users to vote-lock their CRV and acquire veCRV.


veCRV stands for vote-escrowed CRV, representing CRV tokens locked for voting in the Curve DAO.
More information about Vote-Locking can be found here.

Rewards (Admin Fees)

CRV can be locked to receive trading fees from the Curve protocol. A community-led proposal introduced a 50% admin fee on all trading fees. These fees are collected and converted to 3CRV, which are then distributed to veCRV holders.

Locking your CRV


One of the main incentives for locking CRV is the ability to boost rewards on provided liquidity. Vote-locking CRV allows users to acquire voting power to participate in the DAO and earn up to a 2.5x boost on the liquidity they provide on Curve.

Boosting your CRV Rewards


Once CRV holders vote-lock their CRV, they can start voting on various DAO proposals and pool parameters.


The CRV Matrix

The table below can help you understand the value add of veCRV.

Liquidity in Pool & no veCRV Liquidity in Pool & veCRV Liquidity in Pool & Gauge & no veCRV Liquidity in Pool & Gauge & veCRV No Liquidity & no veCRV No Liquidity & veCRV
Earns lending & trading fees Yes Yes Yes Yes No No
Earns CRV Emissions No No Yes Yes No No
Earns boosted CRV Emissions No No No Yes No No
Can vote on DAO Proposals No Yes No Yes No Yes
Can vote on Gauge Weight No Yes No Yes No Yes
Earns Gov Fee No Yes No Yes No Yes