【Quick explainer】Why would anyone be willing to lock up CRV for 4 years?
Convex lets users deposit CRV in exchange for cvxCRV. These CRV tokens are permanently locked as veCRV, and the exchange cannot be reversed.
The cost of locking up your tokens is giving up liquidity: even if the price plummets during the lock-up period, you can’t sell. You have to wait until the lock-up expires to get them back.
$CRV is Curve’s governance token, and the veToken model was popularized by Curve.
Don’t trade with borrowed money—being under pressure can lead you to make bad decisions.
#CRV
Convex lets users deposit CRV in exchange for cvxCRV. These CRV tokens are permanently locked as veCRV, and the exchange cannot be reversed.
The cost of locking up your tokens is giving up liquidity: even if the price plummets during the lock-up period, you can’t sell. You have to wait until the lock-up expires to get them back.
$CRV is Curve’s governance token, and the veToken model was popularized by Curve.
Don’t trade with borrowed money—being under pressure can lead you to make bad decisions.
#CRV
