⚔ CRV wars: understanding the race to accumulate power to influence Curve Finance protocol
Since the early days of Curve Finance and the launch of the CRV token, we have been waiting, contemplating and assuming what the CRV war could bring. Now, with the launch of Convex, then Bribe.crv and finally Votium, everything is accelerating: VeCRV votes can now be bought! So let’s see how this impacts Curve and DeFi as a whole. At first glance, the question is quite simple and straightforward: Curve is the largest decentralized DeFi exchange in terms of total value deposited. The CRV token provides access to 1/ a share of the fees collected 2/ a voting power to influence the issuance of future CRVs. => Having control over a large CRV voting power makes it much easier to develop a Curve pool, since it offers the possibility to vote for large CRV returns on the pool in question. Nevertheless, as often in DeFi, everything is not so simple and the devil is in the details. To understand the stakes of the CRV war, you need to have a good understanding of the different tools built on it. This will allow you to judge the relevance of the strategies deployed by the different projects that seek to influence Curve.
