Oct. 4, 2022: Almost Too CLever 🤝🐘
CLever + Stake DAO announce $clevCRV partnership on eve of $CLEV release
We are T-24 hours from the CLever token offering, and the CLever team have front-run their own event with a big announcement.
The two are creating $clevCRV by bringing CLever’s farm fresh leverage to $sdCRV’s success. At over 30% yield, Stake DAO’s $sdCRV Liquid Locker is gaining traction as one of the highest yielding $CRV wrappers. They recently passed eight deuces worth of mints, and are gunning for Yearn’s $yCRV in the wrapped Curve wars.
A variety of protocols are catching on to the benefits of Stake DAO’s liquid lockers, with Stargate possibly joining the herd the past week (the twitter handle is stargate misspelled, so not sure…), along with new rewards coming for Balancer AAVE.
CLever makes it easy to tokenize and trade your future token yield today, which they’ve demonstrated through the successful launch of $clevCVX. This token can be run through a forthcoming clevCVX-CVX pool on Curve to allow for repeating the process and levering up one’s position. Meanwhile, the $clevCVX keeps harvesting in the background automatically with no effort required.
CLever debuted $clevCVX earlier this year and is closing in on 1MM $CVX deposited while still in the beta period — remember there’s a hard cap at 100MM $CVX. Thanks to Stake DAO’s high yielding $CRV, they are able to run the same magic on the new $clevCRV token. The team this morning announced that a clevCRV-CRV pool will also be launched on Curve, with Stake DAO providing bribes to the pool for three months to juice liquidity.
This all may focus more attention on the upcoming $CLEV capped elastic token offering. We discussed the details around the $CLEV token offering last week and the full explainer is through their original Medium post. This helpful video explainer also dropped in time to show off the project:
Thanks to CLever’s other partnership with FRAX, this means users who lock $CLEV will earn all of $CVX, $FRAX, and $CRV. Cash flow for life confirmed?!
Is demand for the $CLEV airdrop the reason for the recent pump in $CVX?
The CLever offering is a flash sale of $CLEV which can only be purchased using $CVX, so the price may have broken upwards as users accumulated for the event.
Or maybe it’s $LDO listening to the sage advice of Ouroboros Capital?
Perhaps also it’s the recent rumors dropped by Chad2tP?
Or maybe the market is starting to figure out the overall $CVX tokenomics?
Mostly we’re excited to see so many great projects building atop each other.
LFG! (NFA)