Why are some people willing to lock up their coins for years?
Here's how I understand it: Convex pools scattered CRV and locks it up permanently, allowing users who don't want to lock their own CRV for four years to indirectly share in the boosted yields.
CVX holders can lock their CVX as vlCVX (for a minimum of 16 weeks) and use it to vote on how Convex votes its veCRV.
$CRV The veCRV obtained by locking tokens is the most representative example of the veToken model.
Here's how I understand it: Convex pools scattered CRV and locks it up permanently, allowing users who don't want to lock their own CRV for four years to indirectly share in the boosted yields.
CVX holders can lock their CVX as vlCVX (for a minimum of 16 weeks) and use it to vote on how Convex votes its veCRV.
$CRV The veCRV obtained by locking tokens is the most representative example of the veToken model.