Proposal to add yCRV gauge to gauge controller
• Website: yearn.finance • Documentation:
• Github Page: github.com/yearn • Communities: discord.yearn.finance
yCRV is the latest generation of Yearn’s liquid veCRV wrapper product. It is an upgrade to the yveCRV/yvBOOST system that exists today, and will feature improved liquidity, yield, and the ability for users to cast votes on gauges.
The obvious home for yCRV liquidity is on Curve. With CRV incentives, this pool will become the main source of liquidity for yCRV - an improvement over the situation today with yveCRV/yvBOOST where liquidity is split across multiple DEXes. If approved for CRV emissions, users can choose to increase their LP or choose to lock additional CRV into the yCRV system to enjoy the incentives while furthering the veTokens.
Governance: yCRV is designed to be a trustless system with limited governance powers reserved to veYFI users.
Yearn’s governance multisig:
Yearn’s whitelisted voter contract:
Oracles: The yCRV system does not depend on any oracle systems.
Audits: yCRV was audited by ChainSecurity link here
Centralization vectors: Similar to all other veCRV liquid wrappers, the whitelisted contract utilized by Yearn to lock CRV is owned/operated by the protocols’ governance multisig. Yearn’s multisig has a 6 of 9 threshold.
Market History: yCRV is the successor to yveCRV which has tracked loosely to the price of CRV over time. The new yCRV tokenomics has a number of clear benefits over the old system which give us confidence that will bring the price closer to peg.