Why would anyone be willing to lock up CRV for a full 4 years?
Convex lets users deposit CRV in exchange for cvxCRV. These CRV are permanently locked as veCRV, and this process cannot be reversed.
The veToken model is designed to exchange long-term lockups for voting power and rewards, aligning token holders’ interests with the protocol’s long-term development.
The veCRV obtained by locking up $CRV is a classic example of the veToken model. Current price: 0.3899.
Convex lets users deposit CRV in exchange for cvxCRV. These CRV are permanently locked as veCRV, and this process cannot be reversed.
The veToken model is designed to exchange long-term lockups for voting power and rewards, aligning token holders’ interests with the protocol’s long-term development.
The veCRV obtained by locking up $CRV is a classic example of the veToken model. Current price: 0.3899.