When asked, “Why would anyone be willing to lock up CRV for 4 years?”
I usually answer like this: Locking up 1 CRV for 4 years gets you 1 veCRV, while locking it up for 1 year gets you only 0.25 veCRV. What Convex does is pool CRV from different users and lock it up permanently, allowing users who don’t want to lock their CRV for 4 years themselves to indirectly share in the boosted returns.
$CRV 0.3286（-3.12%）
When did everyone figure this out?
#CRV
I usually answer like this: Locking up 1 CRV for 4 years gets you 1 veCRV, while locking it up for 1 year gets you only 0.25 veCRV. What Convex does is pool CRV from different users and lock it up permanently, allowing users who don’t want to lock their CRV for 4 years themselves to indirectly share in the boosted returns.
$CRV 0.3286（-3.12%）
When did everyone figure this out?
#CRV