There's Now an App for Bribing Curve Token Holders
Curve Finance, the decentralized automated market maker (AMM) focused on stablecoin swaps, continues to cement its position as one of the cornerstones of DeFi and holders of its veCRV governance token continue to reap the rewards. On Aug. 12, Yearn founder Andre Cronje released a tool that allows DeFi projects to bribe veCRV holders with…
By: yyctrader
Byte
Curve Finance, the decentralized automated market maker (AMM) focused on stablecoin swaps, continues to cement its position as one of the cornerstones of DeFi and holders of its veCRV governance token continue to reap the rewards.
On Aug. 12, Yearn founder Andre Cronje released a tool that allows DeFi projects to bribe veCRV holders with token rewards in exchange for their votes.
Curve conducts a weekly governance vote to determine the allocation of CRV rewards to the various liquidity pools on its platform. It’s these votes that the DeFi protocols are after since they directly impact the yields they can offer to their users.
Vote Buying Precedence
Convex Finance started this trend in April by explicitly offering veCRV holders an airdrop of 1% of their native CVX token supply in exchange for their support.
With the new tool streamlining the process, DeFi protocols are not wasting any time.At the time of writing, bribes are being offered by Fantom, Cream Finance and Abracadabra.
