Skip to content

veCRV: Overview


veCRV, an acronym for vote-escrowed CRV, represents CRV tokens that are locked in the voting escrow contract for a specified period. These tokens can only be obtained by locking CRV tokens, and are not transferable.

To obtain the following benefits, users must lock CRV tokens:

  1. Governance

    The veCRV balance represents the voting power of a user, which allows them to vote on on-chain proposals. Additionally, a crucial part of Curve governance are gauge weight votes. Curve token emissions are created in a way that allows veCRV holders to choose how future emissions are allocated. Liquidity pools on Curve can be added to the GaugeController via a successfully passed DAO vote, making them eligible to receive CRV token emissions. The gauge weights determine how much CRV each pool receives. Every Thursday at 00:00 UTC, the updated gauge weights are applied.

    Gauge Weights

  2. Earning Fees

    Starting on the 19th of September 2020, 50% of all trading fees are distributed to veCRV holders, while the remaining 50% goes to the respective liquidity providers of the pools. This distribution was implemented following a community-led proposal, aimed at aligning the incentives between liquidity providers and governance participants (veCRV holders). Additionally, since the launch of Curve's own stablecoin (crvUSD), 100% of the accrued interest from crvUSD markets also goes to veCRV holders.

    The collected fees are converted to 3CRV (the LP token for 3Pool) and distributed among veCRV holders.

    Claiming Trading Fees

  3. Boosting LP

    One of the primary incentives for vote-locking is the boost mechanism. Users who provide liquidity to a pool and have some vote-locked CRV receive boosted CRV rewards.

    Boosting your CRV rewards

CRV Matrix