Proposal to add vETH/WETH to the Gauge Controller


This is a proposal to enable $CRV rewards for the vETH/WETH gauge on Curve at:

$CRV incentives will increase liquidity, boosting the efficiency of trading and grow user engagement

By incentivizing, we attract committed LPs, which would result in a thriving LRT ecosystem on Curves AMM, positioning curve as a leader for LRT liquidity.

References/Useful links:



dApp: Vector Reserve | Home


Github: vectorreserve · GitHub

Protocol Description:

vETH is DeFi’s first Liquidity Position Derivative (LPD), introduced by Vector Reserve.

LPDs, or Liquidity Position Derivatives, are a never-before-seen asset class, capturing the yield from various LSTs and LRTs in a diversified fashion - while maximizing the ways to earn yield from each of them.

vETH can be minted using any approved asset on our dApp, and staked to earn yield from the following sources:

  1. Staking and Restaking gains from holding LSTs and LRTs

  2. LP fees from pairing these assets on various DEXs

  3. Upcoming Superfluid Staking: The process of restaking liquidity positions on EigenLayer to earn additional yield. When this feature of EigenLayer goes live, we aim to be the market leader with a large treasury of LST/LRT-based LP positions backing vETH.

This approach allows us to generate best-in-market yield, giving vETH holders an advantage over holding standard LSTs or LRTs.

Our reserve-based utility token, VEC, has a symbiotic relationship with the vETH token. While vETH generates value for the Vector Reserve, being a great source of treasury revenue, VEC is emitted to generate liquidity for vETH pairs across multiple DEXs - ensuring the product remains competitive in all areas. Every VEC token is backed by assets within the Vector Reserve, which grow from a share of yield generated by vETH as well as LP positions acquired through bonding.

With over $30m TVL accumulated across vETH and sVEC since launch, Vector Reserve is pioneering the next stage of the liquid restaking revolution.

The curve vETH/WETH gauge will play an important early role in incentivising liquidity providers to help with the process of bootstrapping initial liquidity. It will then serve as an important source of liquidity for vETH on an ongoing basis, supporting its utility and viability for integration into a range of DeFi protocols.


Governance: Here is a link to the multisig wallet for the owner safe:

Oracles: No external oracles.

Audits: First audit can be viewed here:

Centralization Vectors: We have a small engineering team, with one lead engineer, but plans and funds are in place to scale as needed. The treasury is currently controlled by the multi-sig wallet.

Market History: Vector Reserve and vETH minting launched on Thursday 25th January 2024. Since then Vector TVL has rapidly accumulated over $30m in TVL. There have been no major volatility events attached to vETH since launch.

Value: We believe in migrating the majority yield pool to wherever the majority of user provided LP is. Therefore, if the Curve pool proves very popular for our community, it is very likely that we will support it to become the primary source of liquidity.

1 Like

This looks interesting.
Curve Liquidity Manager :eyes: