Stake DAO

As a result of having locked over 2.1 million CRV on Curve.fi, Stake DAO will be eligible to receive an airdrop from a new protocol launching called Convex Finance. Convex Finance expects to launch at the end of April, but currently has no specific date set. Convex Finance was created by several Curve community members, and will offer a variety of services that utilize Curve.fi liquidity pools.

The CVX token will be airdropped to users and communities that hold veCRV (CRV locked on Curve.fi). The token supply for CVX is 100 million with 1% being airdropped. An additional 1% of the total supply is being given to users/communities that vote yes to white listing Convex Finance on Curve.fi (Stake DAO would vote yes/no on the communities behalf).

Unlike the EPS airdrop on Binance Smart Chain, this will be a single airdrop. The airdrop of CVX will be instantaneous, and the entirety of the CVX tokens will be received immediately.

More information about Convex Finance and their launch can be found here: https://convexfinance.medium.com/convex-finance-pre-launch-announcement-3630b2a428d0

Convex Finance can be found here: https://www.convexfinance.com

Now for the important part, how should The Herd vote? As you know, we operate as a DAO. That is to say, our community will be involved every step of the way in how we claim this airdrop, and what we do with it. As this vote will require 2 decisions to be made, we will create 2 proposals for the DAO to vote on. Regardless of if the community votes no to white listing Convex Finance on Curve, the community will still need to decide what to do with the 1% we receive from the CVX airdrop. The first vote is as follows:

Should Stake DAO vote to whitelist Convex Finance on Curve.fi allowing them to potentially create yield farming strategies and lock CRV? Please note these votes will run for approximately 5 days.