Sept 3 2021: Convex Grants Suffrage 🙌🗳️

Digital Democracy Arrives as Convex Announces Vote Locking

It’s a great day for digital democracy, as Convex has extended the right to Votium!

Convex Finance @ConvexFinance

CVX voting is here and more! Read our blog for all the details!

convexfinance.medium.comSeptember Update: Vote Locking Launch, Liquidity Provider Incentives, and more!CVX voting is finally here! CVX holders can now have their say in how Convex Finance allocates it’s veCRV voting power in the bi-weekly Curve.fi gauge weight votes. You can lock your CVX tokens in…

Convex is a critical gear in the ornate Curve flywheel we detailed yesterday. Like Curve, Convex is complex.

CryptoCondom @crypto_condom

@ConvexFinance is a sleeping giant. TVL is the 7th largest in Defi w/100m+ in protocol revenue since May. $CVX price is up 3x in the past 2 months....but that's not even the beginning. #TheLockening is underway with 90.4m CRV locked up. Watch $CVX moon when voting rights begin.

Hopefully you are pro-prophylactics, because you’re about to get a lot more @CryptoCondom in your face....

In something of a disproof of efficient markets, Convex is quite literally printing money for its early adopters.

CryptoCondom @crypto_condom

$CVX TVL now 7.8B and 110m protocol revenue in just 109 days of operation since launch on 5/17/21. The metrics on @ConvexFinance speak for themselves. The fact that the market hasnt realized how undervalued CVX really is...is a chance to gain real wealth by accumulation.

CryptoCondom @crypto_condom

@ConvexFinance is quietly making bank as they lock more than 7.6BILLION in TVL $CVX protocol revenue has increased, on average, by 1MILLION per day since launch 5/17/21 With the exception of gas fees, this revenue is entirely distributed to the protocol’s stakeholders. 💪👀💪

As we’ve explained often, the piece of Convex’s value that had yet to be unlocked was their voting power.

The Curve bribe wars are starting to heat up, with something of a bidding war taking place, where protocols are throwing money at users to vote for their pools to receive excess $CRV rewards.

Spirit of Daniele 🧊🧙‍♂️🔺 (🎩, 🎩) @danielesesta

Magic Internet Money $MIM metapool on @CurveFinance from tomorrow will be the highest rewards pool. Bribes from @AntonNellCrypto and @AndreCronjeTech worked like a breeze! New chapter will be open now for @MIM_Spell

Sasha Ivanov @sasha35625

Let's test bribe.crv.finance - Vote for $USDN pool on curve.fi and get $NSBT USDN governance token 0x9D79d5B61De59D882ce90125b18F74af650acB93 10k tokens to be distributed in a week! ~$300k worth (don't sell it though, major Neutrino proto upgrades soon)

curve.fiCurve.fiCurve is an exchange liquidity pool on Ethereum designed for: extremely efficient stablecoin trading, low risk, supplemental fee income for liquidity providers, without an opportunity cost.

Andre Cronje @AndreCronjeTech

bribe.crv.finance wars heating up; USDN with a massive $300k bribe, will whitelist NSBT in the UI, you can search/claim by searching in top bar, adding today to default view. Bribes; USDN => $300k NSBT alUSD -> $160k ALCX MIM -> $100k SPELL fantom-fusdt -> $100k FTM

Sasha Ivanov @sasha35625

Let's test https://t.co/zDDti2KK6r - Vote for $USDN pool on https://t.co/L3sgqrqFz1 and get $NSBT USDN governance token 0x9D79d5B61De59D882ce90125b18F74af650acB93 10k tokens to be distributed in a week! ~$300k worth (don't sell it though, major Neutrino proto upgrades soon)

Hence the excitement about the announcement of the Votium release, which offers users extra fees from locking.

With potentially more info to come if you keep attuned to the team’s announcements.

MoonFrog || $CRV Booster || 🐸🦍🦇🔊 @CFrogE1

What does this mean? 10x Locking Power? 10x Boosting Power? 🐸🤔 $CVX $SPELL $CRV

That said, it’s not the right time to jump in, as they’re making a few tweaks to their contracts. Keep an eye out for when it’s safest.

Convex Finance @ConvexFinance

There is going to be a migration on the vote-locking contract. No funds are at risk, and no funds were at risk prior to this update. Because Convex focuses on having a code base which is not upgradeable, we made the choice to make an update and redeploy.

When it’s live, Convex has an absurd amount of voting power that they are now distributing to their users. Convex is at the wheel of DeFi.

ETHViking @ETHViking

Most of you don't know it yet, but $CVX stakers now control #DEFI. 1 $CVX controls ~10 $veCRV of voting power. @ConvexFinance is bigger than $YFI and still only $146m MC If you want the best yields for your pools you're going to have to buy $CVX or pay a bribe. #lockening $CRV

This is all wonderful for anybody who reads the news and doesn’t want to live on this planet anymore.

MoonFrog || $CRV Booster || 🐸🦍🦇🔊 @CFrogE1

@moje_manfi @CurveCap @coingecko I'm leaving. I'll see you in the stars. The journey isn't for everyone, but I hope to see you there. $CRV $CVX

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In other news, there’s been a lot of news out of Washington DC, so of course it’s clowns all the way down 🤡🤡🤡

It’s been too busy to prepare a more thought out response, but in the meantime, you should connect with PAC DAO, an issue group focused on cryptocurrency advocacy. Their weekly call starts in less than an hour in their Discord, with some juicy gossip planned for this chat.

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For more info, check our live market data at https://curvemarketcap.com/ or our subscribe to our daily newsletter at https://curve.substack.com/. Nothing in our newsletter can be construed as financial advice. Author is a $CRV maximalist, and therefore also a $CVX maxi.