May 2, 2024: Wrapper's Paradise ππ
Comparison of $CRV Wrappers. Plus $GHO, off on a tangent?
Weβre doing everything we can to promote this good writeup by the legendary Pilot Vietnam, comparing Curve wrappers:
They all earn rewards in a bit diff ways and have tradeoffs.
For example, locking veCRV directly on Curve you know you'll exit 1:1 but of course you're not liquid. You can also earn around 35% right now, including bribes. those bribes have to be claimed every week.
$cvxCRV doesn't earn bribes but instead you can choose rewards (the breakdown is on convex) in either gov tokens or stables.
Something like $sdCRV does earn bribes, allows you to vote, and you earn native rewards as well, but small liquidity although arguably the best price in relation to tracking the $CRV price.
Yearnβs wrapper [$yCRV] earns rewards, including bribes but they are all autocompounded into more $CRV..... Also the $yCRV price tends to sit around 80 to 85% of $CRV so something to consider when choosing
We took the liberty of converting this to infographic form (PDF)
As always, apologies in advance to Convex, Yearn, and Stake DAO for any errors.
Further chatter in Telegram
$GHO
Some minor LLAMMA drama erupted yesterday. Aave Labs introduced a bold vision for Aave v4:
All great stuff. But it drew some flak from Curve.
Clarifyingβ¦
Curve has in the past been faced by theft of intellectual property, but generally opted not to enforce because the competitors never grew to size.
Staniβs swift response:
Acrimony? Water under the bridge? Made for Reality TV spat? Looks to us like itβs just a warning shot being fired across the bough, to make sure the message is getting across. Perhaps the spirit of collaboration may win outβ¦
Some color on the task at replicating $crvUSD LLAMMA mechanics without βstealingβ
To save you a search, EUV stands for βExtreme Ultraviolet Lithographyβ
Curve has interest in protecting its cash cow. Of late, borrow rates have plummetedβ¦
Peg is stronkβ¦
Peg Keepers are printingβ¦