Locking CRV
To participate in governance votes on Curve, users need to lock their CRV tokens to obtain veCRV (vote-escrowed CRV). Locking CRV provides four key benefits:
- Voting rights on all DAO proposals.
- Directing where weekly CRV emissions flow (Gauge Votes).
- Increased personal liquidity mining rewards (Boost).
- Earning a share of DAO revenue.
There is no minimum veCRV required to vote, but to create new proposals, users need at least 2,500 veCRV.
veCRV Decay¶
When you lock CRV tokens, you receive veCRV proportional to how long you lock for:
- 4 years remaining: 1 CRV = 1 veCRV
- 2 years remaining: 1 CRV = 0.5 veCRV
- 1 year remaining: 1 CRV = 0.25 veCRV
- Unlocked CRV: 0 veCRV
Your voting power gradually decreases over time, reaching zero at the unlock date. You can extend your lock duration at any time, which will increase your veCRV balance again.