Are you concerned about how many layers of indirection there are between actual revenue vs claims on possible future revenue? Hint: CVX does not create more revenue, just more claims
Two sources of revenue in the system: fees paid to liquidity providers and fees paid to veCRV holders. That's all paid in 3CRV. All of the boosts and other APY is in terms of CRV or CVX tokens. CRV and CVX tokens represent claims on future 3CRV revenue. And voting rights in the DAO. But it seems to me, in terms of actual revenue, they are increasing claims on revenue (CRV and CVX) faster than revenue (3CRV paid to veCRV holders).
Hey Dan - can you dumb this down. I can't understand what you mean by "between actual revenue vs claims on possible future revenue?"
My understanding is that CVX creates revenue for users cause they aggregate CRV allowing users to get Max Boost from Curve emissions (something which most normies can't afford).
Curve is in big trouble. It's going to be one of the firsts to be targeted by the upcoming regulatory framework as they focus primarily on stablecoins.
Uniswap did 1.5B for its LPS without spending anything on rewards and far less TVL.
Curve did 45M for its LPs in all its existence and all of that thanks to the incredibly high CRV emissions. Curve's TVL might me multiples bigger yet it's all empty calorie dressing earning nothing in comparison.
The curve wars will be won by those with the foresight to get out at the right time.
In this situation MIM and Frax and other decentralized stable coins would just replace the centralized coins. It's already happening as adoption for both those coins is growing steadily.
In past you would share team ownership % positions, does team own any of the Curve or Convex tokens in this post and in what %? (in particular CRV veCRV cvxCRV CVX vlCVX)
Any thoughts on the big Curve Wars change with Do Kwon jumping in? Would love to see a short n quick update and even how this might effect the rdpx/dpxusd that was coming. Thx
Are you concerned about how many layers of indirection there are between actual revenue vs claims on possible future revenue? Hint: CVX does not create more revenue, just more claims
Two sources of revenue in the system: fees paid to liquidity providers and fees paid to veCRV holders. That's all paid in 3CRV. All of the boosts and other APY is in terms of CRV or CVX tokens. CRV and CVX tokens represent claims on future 3CRV revenue. And voting rights in the DAO. But it seems to me, in terms of actual revenue, they are increasing claims on revenue (CRV and CVX) faster than revenue (3CRV paid to veCRV holders).
Following / bumping to see if you can expand as Doge Brogan asked. Also interested. Thanks!
Hey Dan - can you dumb this down. I can't understand what you mean by "between actual revenue vs claims on possible future revenue?"
My understanding is that CVX creates revenue for users cause they aggregate CRV allowing users to get Max Boost from Curve emissions (something which most normies can't afford).
Thanks.
Reading this hurts my head but nice write-up!
Curve is in big trouble. It's going to be one of the firsts to be targeted by the upcoming regulatory framework as they focus primarily on stablecoins.
Uniswap did 1.5B for its LPS without spending anything on rewards and far less TVL.
Curve did 45M for its LPs in all its existence and all of that thanks to the incredibly high CRV emissions. Curve's TVL might me multiples bigger yet it's all empty calorie dressing earning nothing in comparison.
The curve wars will be won by those with the foresight to get out at the right time.
In this situation MIM and Frax and other decentralized stable coins would just replace the centralized coins. It's already happening as adoption for both those coins is growing steadily.
In past you would share team ownership % positions, does team own any of the Curve or Convex tokens in this post and in what %? (in particular CRV veCRV cvxCRV CVX vlCVX)
Any thoughts on the big Curve Wars change with Do Kwon jumping in? Would love to see a short n quick update and even how this might effect the rdpx/dpxusd that was coming. Thx
In your opinion, has Yearn "lost" the curve war since the previous Yearn update?
I'd say Convex is the clear winner