Convex Finance 백서

Convex Finance

원문

bitpro가 원문에서 글자만 모은 내용이에요. 표·그림·수식은 빠지거나 깨질 수 있어요. 전체 5쪽 중 2쪽

ote-locked **CVX** is used for voting on how Convex Finance allocates it's **veCRV** and **veFXS** towards gauge weight votes and other proposals. Users must vote-lock their **CVX** tokens in order to participate. Vote locking requires users to time-lock their **CVX** tokens for 16+ weeks. Full details on the vote locking mechanism can be found on the the [Vote Locking](/convexfinance/general-information/understanding-cvx/vote-locking) page. {% content-ref url="/pages/-Mixww9aDRd4eD17yzgY" %} [Vote Locking](/convexfinance/general-information/understanding-cvx/vote-locking) {% endcontent-ref %} ### Obtaining CVX tokens * **You can** [**buy CVX** ](https://swap.defillama.com/?chain=ethereum\&from=0x0000000000000000000000000000000000000000\&to=0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b)**from various dex'es across the ecosystem.**&#x20; * **CVX** is rewarded to **CRV** stakers and Curve.fi liquidity pools pro-rata to **CRV** generated by the platform. If you are in a high **CRV** rewards liquidity pool you will receive more **CVX** for your efforts. * **CVX** tokens were airdropped at launch to some curve users. See [Claiming your Airdrop](/convexfinance/guides/claiming-your-airdrop) to see if you have claimable tokens from launch. # Vote Locking In order to vote on any proposal on Convex, you must lock your **CVX** tokens for a fixed time period(a minimum of 16 weeks). Locked tokens will be inaccessible until 16 full epochs have passed. * If you lock immediately before a new epoch starts, your **CVX** will be locked approximately 16 weeks. * If you lock in the middle of an existing epoch, your **CVX** will be locked for 16 weeks + the time between your lock and the next epoch start. Locks are grouped into weekly "epochs" which start on Thursday at 00:00 UTC. Deposits during the current epoch do not count towards currently active vote weight. **CVX** must be locked in a completed epoch prior to a vote starting in order to participate. {% content-ref url="/pages/-MiaTRTu8SXkMg-NvG6V" %} [Vote Locking CVX](/convexfinance/guides/depositing/vote-locking-cvx) {% endcontent-ref %} **CVX** tokens are automatically unlocked after 16 full epochs have passed * Unlocked **CVX** will sit idle in the [locker contract](https://etherscan.io/address/0xD18140b4B819b895A3dba5442F959fA44994AF50) until withdrawn by the user * Unlocked tokens sitting in the locker contract have the option to Re-lock. Tokens locked in this manner will have vote weight allocated to the **current epoch** rather than the following epoch. {% hint style="warning" %} **CVX** tokens that sit idle longer than 4 epochs are subject to bounty from other users {% endhint %} Other users may kick idle **CVX** out of the locker contract and take a 0.25% bounty per epoch past the 4-epoch grace period. Each separate lock is subject to it's own grace period. * *Example*: 400 **CVX** tokens idle for 5 weeks may be kicked out of the locker contract, and the caller would get 1 **CVX** token. Original user is left with 399 **CVX** tokens. * *Example*: 400 **CVX** tokens idle for 6 weeks may be kicked out of the locker contract, and the caller would get 2 **CVX** tokens. Original user is left with 398 **CVX** tokens. Vote-locked **CVX** tokens accrue rewards. Locked **CVX** earn a share of protocol fees. Check[Fees](/convexfinance/faq/fees) section for info on fees vote-locked **CVX** receive. # Vote Delegation Voting rights from held **CVX** tokens may be delegated to another address/entity. This function is ideal for those who hold **CVX** tokens but are unsure/uninterested in how they would vote on proposals or gauge weight votes. You can also delegate vote weight directly to the Convex Finance core team. Delegating is a separate action from locking: you don't need to delegate if you lock, nor do you need to lock if you delegate. You delegate your voting power by delegating, and you increase your voting power by locking. If you delegate without locking, you delegate 0 voting power at the current time, but if you lock in the future, this voting power will be delegated automatically. You can change or revoke delegation at any time. Users can Delegate their **CVX** vote-weight on the Convex Finance website on the bottom-right area of the page: <https://www.convexfinance.com/lock-cvx> * Enter the Ethereum address you wish to delegate your vote-weight to in the form, and click "Delegate" * If you wish to delegate to the Convex team, click "Delegate to Convex team" instead ![](https://2181409797-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-MXUXhi90m2Jg6S04DpE%2F-Mixm8E2mf-afC7ZBKWv%2F-MixpE1_5ga2zDZjH-yb%2Fimage.png?alt=media\&token=441b372d-04f6-45a7-a489-4601bf3912b3) # Governance and Voting Convex governance has moved to a dedicated on-chain voting platform for **vlCVX** holders. The new system lets **vlCVX** holders and their delegates vote through Convex on DAO proposals and gauge weight allocations across supported protocols. Convex aggregates **vlCVX** voting results and uses those results to submit Convex's vote through the relevant external governance contracts. Use the new Convex Governance UI here: <https://www.convexfinance.com/vote> ### What changed Previously, many Convex voting flows were handled through Snapshot. The new voting system introduces on-chain Convex voting contracts for: * **DAO proposal voting** — votes for supported protocol governance proposals. * **Gauge weight voting** — weight allocation across supported gauges. * **Separate delegation** — users may delegate DAO voting weight and gauge voting weight independently. * **A dedicated governance UI** — active proposals, vote weight management. ### Supported voting categories The Governance UI currently organizes voting into these categories: * **Curve Gauge Weights** * **f(x) Protocol Gauge Weights** * **Curve DAO Proposals** * **f(x) Protocol DAO Proposals** * **Frax DAO Proposals** * **Resupply DAO Proposals** * **Convex DAO Proposals** If there is no active proposal for a category, the UI will show that no proposal is currently available. ### Who can vote Voting power comes from **vlCVX**, which is created by locking **CVX**. A wallet can vote if it has effective **vlCVX** voting weight for the relevant voting epoch. Effective voting weight may come from: * the wallet's own locked **CVX** balance, or * voting weight delegated to that wallet by other **vlCVX** holders. To lock **CVX**, use the Convex lock page: {% embed url="<https://www.convexfinance.com/lock>" %} ### Voting epochs and timing **vlCVX** voting power is epoch-based. Convex lock epochs begin weekly on **Thursday at 00:00 UTC**. For voting, the proposal records an epoch when the proposal is created. Your voting weight for that proposal is based on your **vlCVX** balance and delegation state for that recorded epoch. Important timing rules: * **CVX** locked during the current epoch counts after the next epoch begins. * Delegation changes take effect from the next epoch. * Relocking expired **CVX** can restore voting power for the current epoch. * If a lock has expired, the user may need to process expired locks or relock before voting. ### DAO voting DAO proposals are yes/no votes. A voter may allocate voting weight between yes and no using percentages. Examples: * 100% yes / 0% no * 0% yes / 100% no * 60% yes / 40% no Convex aggregates **vlCVX** votes and uses the final percentage result when submitting its external governance vote. ### Gauge weight voting Gauge weight proposals let **vlCVX** holders decide how Convex voting power is allocated across gauges for supported protocols such as Curve and f(x) Protocol. Voters allocate 100% of their vote weight across one or more eligible gauges. Convex aggregates all votes and submits the final gauge weights through the relevant external gauge-voting system. ### Delegation Delegation lets another address vote with your **vlCVX** weight without moving your **CVX** or **vlCVX**. The new Governance UI supports separate delegation flows for: * **Gauge weight votes delegate** * **DAO votes delegate** You can delegate to a specific address or use the UI option to delegate to the Convex team. # How to Vote ### Step 1: Open the Governance UI Go to <https://www.convexfinance.com/vote>. The page is labeled **Vote with your vlCVX** and shows the available voting categories. ### Step 2: Connect your wallet Click **Connect Wallet** and connect the Ethereum wallet that holds your **vlCVX** or delegated voting weight. Make sure your wallet is connected to Ethereum mainnet. ### Step 3: Choose a voting category The UI separates voting by protocol and vote type. Current categories include: * Curve Gauge Weights * f(x) Protocol Gauge Weights * Curve DAO Proposals * f(x) Protocol DAO Proposals * Frax DAO Proposals * Resupply DAO Proposals * Convex DAO Proposals Click **View** on the category you want to review. ### Step 4: Review the proposal Before voting, review the proposal description, voting period, your available vote weight, current vote totals, and any external governance proposal linked from the UI. ### Step 5: Cast your vote For a **DAO proposal**, choose how to allocate your voting weight between **yes** and **no**. For a **gauge weight proposal**, choose the gauges you want to support and allocate your vote weight across them. Gauge allocations must total 100%. ### Step 6: Confirm the transaction Submit your vote in the UI and confirm the transaction in your wallet. Your vote is recorded on-chain once the transaction confirms. ### Changing a vote If the voting window is still open, you may submit another vote to update your choice. A re-vote can change your DAO yes/no split, change your gauge allocations, or refresh your voting weight after a relevant **vlCVX** or delegation update. # Gauge Weight Voting Gauge weight voting lets **vlCVX** holders decide how Convex allocates voting power across eligible gauges. Convex currently supports gauge weight voting categories in the new Governance UI for: * **Curve Gauge Weights** * **f(x) Protocol Gauge Weights** Open the Governance UI here: <https://www.convexfinance.com/vote> ### How gauge voting works 1. A gauge weight proposal is created for a supported protocol. 2. **vlCVX** holders and delegates vote by allocating vote weight across eligible gauges. 3. All gauge allocations must add up to 100%. 4. Convex aggregates all **vlCVX** votes. 5. After the proposal is finalized, Convex submits the final gauge weights through the relevant external gauge voting system. ### Voting weight Your gauge voting weight is based on your effective **vlCVX** weight for the proposal epoch. Effective weight includes your own active **vlCVX** plus any gauge voting weight delegated to you, minus any weight you delegated away for gauge voting. ### Eligible gauges Gauge voting is limited to gauges recognized by the relevant Convex gauge registry. For Curve gauges, the registry verifies that the gauge is active through Curve's gauge controller and is not killed. For f(x) Protocol gauges, the registry verifies that the gauge is an active supported f(x) Protocol gauge type. ### How to submit a gauge vote 1. Go to <https://www.convexfinance.com/vote>. 2. Connect your wallet. 3. Open **Curve Gauge Weights** or **f(x) Protocol Gauge Weights**. 4. Review the active proposal. 5. Select one or more eligible gauges. 6. Allocate your vote weight. The total must equal 100%. 7. Submit the vote and confirm the transaction. ### Changing your gauge vote You can change your gauge allocation while the voting period is still active by submitting a new vote. Your new vote replaces your prior gauge allocation for that proposal. ### Delegated gauge votes Gauge voting delegation is separate from DAO voting delegation. If you delegate gauge voting weight to another address, that address can vote with your gauge voting weight. Delegation does not transfer your **CVX** or **vlCVX**. Delegation changes take effect starting the next epoch. ### Finalization and execution After a proposal ends and is finalized, the gauge executor submits the aggregate Convex vote externally. Gauge execution may be submitted in batches. Final submitted weights are calculated from each gauge's share of total **vlCVX** votes for that proposal. ### Important notes {% hint style="warning" %} Gauge votes are on-chain transactions and require ETH for gas. {% endhint %} {% hint style="info" %} If your lock has expired, you will need to process expired locks or relock before your voting weight can be synced and used. {% endhint %} # DAO Proposal Voting DAO proposal voting lets **vlCVX** holders vote through Convex on governance proposals for supported protocols. The new Convex Governance UI supports DAO proposal sections for: * Curve DAO Proposals * f(x) Protocol DAO Proposals * Frax DAO Proposals * Resupply DAO Proposals * Convex DAO Proposals Open the Governance UI here: <https://www.convexfinance.com/vote> ### How DAO voting works DAO voting uses yes/no vote allocation. A voter can allocate voting weight between **yes** and **no**. This allows Convex to express the final **vlCVX** result proportionally when submitting a vote externally. Examples: * 100% yes, 0% no * 0% yes, 100% no * 60% yes, 40% no If 60% of participating vlCVX weight votes yes and 40% votes no, Convex can submit a 60/40 weighted vote where the external governance system supports weighted voting. ### How to vote on a DAO proposal 1. Go to <https://www.convexfinance.com/vote>. 2. Connect your wallet. 3. Open the relevant DAO proposal section. 4. Review the proposal and voting period. 5. Choose your yes/no allocation. 6. Submit the vote and confirm the transaction. ### Changing your DAO vote You may change your vote while the proposal is active. A re-vote can change your yes/no allocation, update your voting weight if relevant lock or delegation state changed, and replace your previous vote for that proposal. ### Delegated DAO votes DAO vote delegation is separate from gauge vote delegation. If you delegate DAO voting weight, your delegate can vote on DAO proposals with your voting weight. Delegation does not transfer your **CVX** or **vlCVX**. Delegation changes take effect starting the next epoch. ### Finalization and execution After voting ends, DAO proposals have a finalization period before they are fully finalized. For supported executable proposals, Convex's vote executor submits the final result to the relevant external governance system. Some proposal types may still require external operational steps depending on the target protocol. ### Important notes {% hint style="warning" %} DAO votes through the Convex Governance UI are on-chain transactions and require ETH for gas. {% endhint %} {% hint style="info" %} If the UI shows **No proposal yet**, there is no active proposal for that DAO category. {% endhint %} # Delegating Voting Power Delegation lets another address vote with your **vlCVX** voting weight without transferring custody of your **CVX** or **vlCVX**. Use the Governance UI to manage delegation: <https://www.convexfinance.com/vote> ### Delegation types The new voting system separates delegation into two categories: * **Gauge weight votes delegate** — used for Curve and f(x) Protocol gauge-weight voting. * **DAO votes delegate** — used for DAO proposal voting. You may delegate each category to the same address, to different addresses, or not delegate at all. ### What delegation does Delegation gives another address the right to vote with your voting weight for the selected vote type. Delegation does **not** transfer your **CVX**, transfer your **vlCVX**, give the delegate permission to withdraw or relock your **CVX**, or give the delegate wallet control over your assets. ### How to delegate 1. Go to <https://www.convexfinance.com/vote>. 2. Connect your wallet. 3. Scroll to **Vote delegates**. 4. Choose either **Gauge weight votes delegate** or **DAO votes delegate**. 5. Enter the delegate address. 6. Click **Delegate** and confirm the transaction. The UI also includes an option to **Delegate to Convex team** for each delegation type. ### How to change or remove a delegate To change your delegate, submit a new delegation transaction for the relevant vote type. To remove delegation, clear the delegate for that vote type. If the UI provides a revoke option, use it. If a contract-level interaction is required, removing delegation is equivalent to setting the delegate to the zero address. ### When delegation takes effect Delegation changes take effect starting the **next epoch**. They do not change voting weight for the current epoch or an already-created proposal that uses the current epoch. Convex lock epochs begin every Thursday at 00:00 UTC. ### Syncing voting weight The delegation contracts store epoch-based voting weight. If your **vlCVX** balance changes because you lock or relock **CVX**, your delegated weight may need to be synced. The voting contracts can automatically sync when you vote if they detect a mismatch, but expired locks must be processed before syncing can complete. ### Expired locks If your **CVX** locks have expired, syncing can revert until you process the expired locks or relock. If voting or delegation weight refresh fails, check whether you have expired locks on the lock page. # Voting Contracts and Security Convex's new voting system is implemented through on-chain smart contracts. Technical users can review the repository here: <https://github.com/convex-eth/voting> ### Deployment addresses The mainnet deployment file in the voting repository lists the following addresses. #### Core voting contracts | Contract | Address | | --------------------- | ----------------------------------------------------------------------------------------------------------------------- | | ConvexCore | [`0xCC07e8BA6bc8aeb18C4AE110C3Da9c7Dce4A3e74`](https://etherscan.io/address/0xCC07e8BA6bc8aeb18C4AE110C3Da9c7Dce4A3e74) | | VotingRegistry | [`0x6C3a56ea7c2DA4ee2876DbDa437173B28f001c34`](https://etherscan.io/address/0x6C3a56ea7c2DA4ee2876DbDa437173B28f001c34) | | DaoDelegation | [`0x22697721EC1C14e42305e91BF02672932E8a7B09`](https://etherscan.io/address/0x22697721EC1C14e42305e91BF02672932E8a7B09) | | GaugeDelegation | [`0xb8270eef1319173dE9f5033FED442F638ff1607d`](https://etherscan.io/address/0xb8270eef1319173dE9f5033FED442F638ff1607d) | | SurrogateRegistry | [`0x8E4828a8C69A837F95Caa0D5e18fa09Ded12F73f`](https://etherscan.io/address/0x8E4828a8C69A837F95Caa0D5e18fa09Ded12F73f) | | GaugeVoteHelper | [`0x76C484F67898EA978aa874dc7B32e648380FB9b1`](https://etherscan.io/address/0x76C484F67898EA978aa874dc7B32e648380FB9b1) | | VoteDelegateExtension | [`0x5349ffba494aC3c888ffa16fD438F44B8c67fB07`](https://etherscan.io/address/0x5349ffba494aC3c888ffa16fD438F44B8c67fB07) | #### DAO voting contracts | Contract | Address | | ---------------------- | ----------------------------------------------------------------------------------------------------------------------- | | ConvexDaoVoting | [`0x26674330B9696E052D70b4F971E46425761daCc2`](https://etherscan.io/address/0x26674330B9696E052D70b4F971E46425761daCc2) | | ConvexDaoProposer | [`0x33753AC6b953Aa7093DE83a7605b1799641D9404`](https://etherscan.io/address/0x33753AC6b953Aa7093DE83a7605b1799641D9404) | | ConvexProposalMetadata | [`0x7a2032c09ee0ccDd183D263f471CDdc26e6d825a`](https://etherscan.io/address/0x7a2032c09ee0ccDd183D263f471CDdc26e6d825a) | | CurveDaoVoting | [`0xE645F3d7b04BFFD67F5Ad4457c08E0C8FE1ddB89`](https://etherscan.io/address/0xE645F3d7b04BFFD67F5Ad4457c08E0C8FE1ddB89) | | CurveDaoProposer | [`0xF6E61c3aa6D812aacBf9ffA61dC2b6bD6f4AD77d`](https://etherscan.io/address/0xF6E61c3aa6D812aacBf9ffA61dC2b6bD6f4AD77d) | | CurveVoteExecutor | [`0x98f98c2fc9683481c896BD912DE74537F36C6ada`](https://etherscan.io/address/0x98f98
프로젝트로 돌아가기