This proposal would create a “Claim veCRV” option on gauges; this would facilitate directly locking accrued CRV without taking custody of it (thereby avoiding a taxable event).
An option to claim directly to veCRV…
Many jurisdictions, including the US, treat receipt of CRV from staking pool tokens as a taxable event (income). By allowing users to directly lock, this is avoided, and the net profitability of staking is higher for all impacted LPs. This should lead to more locked up CRV, less sell pressure on CRV, and merriment and good times for all.
Given many LPs participate in many pools, my intuition is that LPs would rotate whether they “claimed” or they “claimed to veCRV” depending on their boosting/liquidity preferences.
It improves quality of life for many users and supports CRV token price. Gives less money to Uncle Sam and his friends.
Diverts engineering time for revenue accruing projects. Helps filthy blue passport holders.