Understanding governance

Voting on the Curve DAO¶

To vote on the Curve DAO, users need to lock vote lock their CRV. By doing so, participants can earn a boost on their provided liquidity and vote on all DAO proposals. Users who reach a voting power of 2500 veCRV can also create new proposals. There is no minimum voting power required to vote.

Voting Power¶

veCRV stands for vote-escrowed CRV. It's a mechanism where users can lock their CRV tokens for varying lengths of time to gain voting power. Users have the option to lock their CRV for a minimum of one week and a maximum of four years. Those with longer voting escrows wield more stake, thereby receiving greater voting power.

A user's voting power gradually decreases over time until it reaches zero at the time of unlock. For instance, if a user decides to lock 100 CRV for four years, they will initially receive 100 veCRV. After one year, due to the constant decay, the user's veCRV balance will reduce to 75 veCRV, then to 50 veCRV after two years, etc... until it finally zeroes out after four years.

The existing lock can be extended at every point in time, resulting in a increased veCRV balance again.

The DAO Dashboard¶

You can visit the Curve DAO dashboard at this address: https://dao.curve.fi/dao​

On this page, you can find all current and closed votes. All proposals should have a topic on the Curve governance forum at this address: https://gov.curve.fi/​

Submitting proposals¶

If you wish to create a new official proposal, you should draft a proposal and post it on the governance forum. You must also research that it's possible and gauge interest of the community via the Curve Discord, Telegram or Governance forum.

If you're not sure about the technical details of submitting your proposal to the Ethereum blockchain, you can ask a member of the team to help.

DAO Votes¶

There are three kinds of votes:

1. Ownership votes, which control most functionality within the protocol. These votes require a 30% quorum with 51% support.
2. Parameter votes, which can modify pool parameters. These votes require a 15% quorum with 60% support.
3. Emergency votes, which are executed through a multisig consisting of nine members, comprised of reputable figures within the DeFi and Crypto community. More here: Emergency DAO.

Emergency DAO¶

The EmergencyDAO is a 5 of 9 multisig which has very limited actions. It may kill non-factory pools up to 2 months old. Pools that have been killed will only allow users to remove_liquidity. It may also kill liquidity gauges at any time, setting its rate of CRV emissions to 0 and therefore not allowing any further CRV emission to the pool.

The EmergencyDAO multisig is deployed at 0x467947EE34aF926cF1DCac093870f613C96B1E0c and currently consists of the following signers: