Why would anyone be willing to lock up tokens for years?
CVX holders can lock their CVX as vlCVX (with a minimum lockup period of 16 weeks) and vote on how Convex's veCRV is used to vote.
The derivative token cvxCRV cannot be redeemed for CRV at a 1:1 ratio, and its market price is sometimes lower than CRV's.
$CRV The veCRV obtained by locking tokens is the most representative example of the veToken model.
Have you run into any pitfalls with this? Share your experiences to help others avoid them.
#CRV
CVX holders can lock their CVX as vlCVX (with a minimum lockup period of 16 weeks) and vote on how Convex's veCRV is used to vote.
The derivative token cvxCRV cannot be redeemed for CRV at a 1:1 ratio, and its market price is sometimes lower than CRV's.
$CRV The veCRV obtained by locking tokens is the most representative example of the veToken model.
Have you run into any pitfalls with this? Share your experiences to help others avoid them.
#CRV