Curve DAO TokenCRV
Calculate how much you can earn by staking Curve DAO Token. Results vary based on the staking amount, term, and type selected.
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- What is Curve DAO Token (CRV)?
- How was Curve DAO Token Launched?
- Who are the Team Members behind Curve DAO Token?
- How to stake Curve DAO Token (CRV)?
- How to farm Curve DAO Token (CRV)?
- How much can I earn Staking CRV?
- Is there any risks to Staking CRV?
CRV is the governance token for Curve Finance. It implemented a complex time-based staking system to exchange CRV into veCRV, where veCRV is an internal token intended for governance purpose and has a right to claim the cash flows generated by the protocol.
Curve Finance is an automated market maker protocol designed for swapping between stablecoins with low fees and slippage. It’s a decentralized liquidity aggregator where anyone can add their assets to several different liquidity pools and earn fees.
The anonymous developer, with the handle @0xc4ad, tweeted on August 13th 2020, from a newly created account that Curve’s DAO is “ready to rock.” The developer spent 19.9 ETH (~$8,000) in fees to deploy the contracts.
Since the contracts were deployed, some users started staking yCRV tokens, which represent shares of Curve’s liquidity pools, to earn CRV tokens. This led to accusations of “pre-mine” among the DeFi community.
Around 80,000 CRV tokens were reportedly “pre-mined” before the Curve team verified the deployed contracts. Curve was initially “skeptical,” but later found out that the deployment was with “correct code, data and admin keys.”
Curve Finance was created by Russian physicist Michael Egorov.
The current Curve Finance team is based in Switzerland and consists of five people including Egorov. Of the remaining four, one is a developer and the other three are involved in social media and marketing.
CRV can be staked in the Curve Finance DAO Locker. There is no minimum requirement.
Go to the Curve DAO Dashboard and choose the preferred lock-up period to stake your CRV.
Then confirm the transaction. You will receive interest-bearing veCRV.
Now you are entitled to regularly claim your 3CRV rewards. This is manual process. Please consider transaction costs for each claim.
You can claim your rewards anytime and they do not get lost ever. So for small rewards you might want to wait to accrue some more in order to save GAS cost.
If you stake a lot of CRV, it is advised to claim weekly in order to compound your rewards.
Please note that CRV is not accessible during the lock-up time and there is no early withdrawal function.
Anyone who supplies liquidity to any Curve DEX Pool (Curve Y, Curve Compound, Curve PAX, Curve sUSD, Curve bUSD) will receive CRV tokens proportionally to the size and length of the deposit.
CRV can be staked for any timeframe between 7 days and 4 years directly on Curve Finance.
The effective APY is generated by the fees collected from the protocol, which come from trading 50% of all trading fees on Curve as well as any other fees. Thus a higher trading volume on Curve results in higher APY for stakers.
The protocol fees are being distributed between all participating stakers.
Please note that those locking-up their stake for 4 years receive the highest possible APY. The longer you lock-up, the higher your APY. Locking-up stake for 1 year results in an APY less by a factor of 4. Please see the below examples:
1 CRV Locked for 4 years: 1 veCRV
1 CRV Locked for 2 years: 0.5 veCRV
1 CRV Locked for 1 year: 0.25 veCRV
1 CRV Locked for 0.5 years: 0.125 veCRV
To estimate your Staking returns make sure to visit the CRV Staking Rewards Calculator.
There is some risks when Staking CRV including smart contract risk and lock up periods.
Please consider these risks before investing.