DeFi | Why are some people willing to lock up CRV for a full 4 years?
veCRV is non-transferable, and its balance decreases linearly with the remaining lock-up time, reaching zero when the lock expires.
The veToken model is designed to exchange long-term lock-ups for voting power and rewards, aligning token holders’ interests with the protocol’s long-term development.
The veCRV obtained by locking up $CRV is the clearest example of the veToken model.
Understand the rules before getting started, and don’t make decisions based on gut feeling.
veCRV is non-transferable, and its balance decreases linearly with the remaining lock-up time, reaching zero when the lock expires.
The veToken model is designed to exchange long-term lock-ups for voting power and rewards, aligning token holders’ interests with the protocol’s long-term development.
The veCRV obtained by locking up $CRV is the clearest example of the veToken model.
Understand the rules before getting started, and don’t make decisions based on gut feeling.