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Curve (CRV) Governance
  • 18 Nov 2020
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Contents

Curve (CRV) Governance

  • Updated on 18 Nov 2020
  • 1 Minute to read
  • Contributors
  • Print
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  • PDF

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Key Facts:

Protocol Overview:

Curve is a decentralized exchange protocol that specializes in stablecoin trading.

Venues for Discussion:

Formal governance matters are primarily posted in the discussion forum, with support questions and informal discussions taking place in the Discord chat or Telegram channel.

Voting Interface and Process:

Curve's governance system is built using Aragon's underlying governance infrastructure and tools. However, Aragon allows for a great degree of specialization and modification, and CurveDAO operates quite differently from other Aragon DAOs.

In order to participate in Curve governance, token holders must lock their CRV in an escrow contract for periods of up to 4 years. Users receive non-transferable veCRV in exchange, with 1 veCRV token equivalent to locking 4 CRV for 1 year (or 1 CRV for 4 years). Users' voting power decays as their lock period comes closer to expiration.

Anyone with over 2,500 veCRV is able to submit proposals. Submitting a proposal triggers a snapshot to count users' veCRV as of that block. Simple parameter change votes require a quorum of 15% of total veCRV, while larger system changes require a 30% quorum to pass.

While upgrades and parameter changes technically only depend on passing a veCRV vote with sufficient support and participation, Curve has also adopted a procedural ("soft") governance framework to guide proposals and help the community build concensus. Typically, users will create a forum post to describe the suggested change and create a Snapshot poll to gauge sentiment. If the snapshot poll passes, the vote will then proceed to an on chain vote for final ratification.

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