This proposal is to whitelist Earning.Farm in Curve’s “SmartWalletWhitelist” contract, allowing Earning.Farm to participate in Curve governance, to lock CRV, and to provide boosted rewards to its investors (Investor).
Earing.Farm is built on Curve, allowing investors to get yield rewards from Curve. Currently, Earning.Farm is in V1, which enables Investor to deposit USDC/WBTC/ETH and get corresponding rewards compoundly. V2 will enable “CRV Investor” to lock their CRV into VeCRV, so to boost the rewards of USDC/WBTC/ETH pools.
We are here to propose whitelisting Earning.Farm smart contract to enable the boost. After the proposal is approved, we will have V2 smart contract audit by SlowMist and launch on the UI.
Website (V1): https://earning.farm
- A part of earned CRV in USDC/WBTC/ETH pool will be automatically locked into VeCRV to enable boost. So every Investor will become VeCRV holder automaticly, which increase the bonding of yield farming and Curve DAO .
- A part of boosted performance (Initial parameter will be set to 50%) will go to CRV Investor.
- To CRV Investor, Earning.Farm simplifies the Curve system and provide more incentives to lock CRV.
- To Investor, Earning.Farm provides easy to use UI and much higher yield than depositing individually into Curve.
- 3Crv reward will convert to CRV first, before distibuting to CRV Investor.
Earning.Farm focus on helping Investor to manage crypto assets in an easy to use way. It provides a simple Deposit and Earn functionality for Investor that has few experience in yield farming, while the return is much higher than traditional financial system. Meanwhile, Earning.Farm provides a mechanism that CRV Investor can earn higher yield CRV by locking CRV into VeCRV.
What differenciate Earning.Farm from Yearn yveCRV or Convex:
- Simple UI for USDC/WBTC/ETH investors;
- Different setup for CRV reward sharing between Investor and CRV Investor;
- A significant part of earned CRV will be added into the VeCRV Pool automatically, so that VeCRV locked will increase together with growing of Earning.Farm.
The Curve DAO needs to execute the following function on SmartWalletWhitelist to approve the Earning.Farm smart contract V2:
By set such whitelist, Earning.Farm can lock CRV and receive boosted rewards.