As most protocols are actively growing their treasury via various methods (AAVE is lending it, Yearn is farming in their vaults, Synthetix is considering minting synths and LP them on Curve, Sushi is farming Sushi amongst others), the Curve team would like to propose to use a share of the community fund to farm and lock CRV. Community members have brought up that this community and emergency should be grown and actively used.
This CIP would create a linear vest for 24m CRV over one year that would be controlled by the community grants council composed of the Curve team and the following people: https://news.curve.fi/community-council/
As those CRV are vested, they would be used to create a vault on Unit Protocol and AAVE to then draw stable coins which would then be deposited on Curve. 20% of the CRV would b then locked for four years.
- Farmed CRV will be locked and used to repay collateral
- Admin fees will be used to buy CRV (and lock it or repay collateral)
- Voting power will be used to vote to pools with the most volume
- Pay out community grants and make the community fund self sustaining
- No CRV would be sold
Whilst the size of the community fund is considerable, it has been pointed out that most protocols are actively growing them. This proposal would allow the Curve council to begin doing so and thus ensuring the treasury is self sustaining going forward.