Voting and Gauge Weights

The Curve system allows veCRV holders to vote how CRV inflation is distributed by assigning weights to each pool's "gauge".
As a holder of veCRV, Convex Finance can participate in these voting procedures, and these voting rights are passed to vote locked CVX holders.

Voting Rules and Information:

  • Voting will be done via Snapshot.
  • Gauge weight votes will be bi-weekly, starting Thursdays at 00:00 UTC and ending on Tuesdays 00:00 UTC.
    • Other governance votes will be addressed as they arise.
  • Curve ownership governance votes will have a quorum of 15%; Curve parameter governance votes will have a quorum of 15%; gauge weight votes will not have a quorum.
  • Individual CVX holders may spread their votes among multiple pools in gauge weight votes.
  • Each gauge will have a hard cap of 50% of Convex's veCRV assigned to it. Overflow will be distributed to other pools in proportion to their vote weight.
  • Each gauge must receive at least 0.10% of the votes before weight is assigned.
  • CRV paired gauges will have a hard cap of 20%.
  • All non-Ethereum gauge weight will have a combined total cap of 10%. Overflow will be distributed to other pools in proportion to their vote weight.
Convex Finance multi-sig is still required to sign to establish outcomes of all CVX Snapshot votes, for both governance and Curve gauge weight votes. In almost all cases, we will vote in-line with CVX holders. However, Convex and Curve benefit each other, and proposals considered to be blatant attacks damaging either protocol will not be signed for.
Add Gauge Votes
There will be votes to add new gauges to the Curve gauge system in order to receive CRV rewards. While voting will still take place with these, the team's position is that we should be open to new pools and gauges. If those gauges are a net negative, the gauges can always be taken away. However, projects may need the boost to really get started, and may turn into large protocols bringing in large trade fees. It's worth giving projects the chance. After being added to the system, they still need to gather votes for weight as well.
Also not all tokens should be blindly added as well. There should be a sizeable amount of value on the pool with a healthy balance as well as healthy parameters (such as the "A" parameter). There could also be issues with the projects themselves, or the token mechanics. For example, tokens with a pricePerFullShare mechanic do not work well with current Curve factory swaps. There will be a committee of DeFi developers to look at these new gauges and check if they uphold certain requirements. If they do not, they will not be added to the gauge system.