The most obvious example of this is its name, and usage of ████ throughout its materials. also leverages high APYs, but leans more into its mysterious ethos as a way of cultivating demand. With OlympusDAO, high APYs and the comedic-mimetic value of (3,3) were the means by which OHM became so popular. To simplify - because CRV and CVX can generate additional yield in the form of CRV, CVX, and cvxCRV through the mechanisms mentioned in previous posts, there is a plausible additional avenue for the treasury backing $BTRFLY to accrue value other than by issuing bonds. After the initial launch and a successful aggregation of Curve ecosystem tokens, other projects with similar gauge-like systems will be considered. cvxCRV holders are also entitled to usual veCRV rewards including the governance fee distribution, airdrops, a share of 10% of the Convex LPs' boosted CRV earnings and CVX tokens. ![]() cvxCRV is a derivative of veCRV, which is the governance token on Curve, providing holders voting power over proposals and gauge CRV distribution. On a weekly basis, the rewards will be claimed and staked on Convex to convert the CRV into cvxCRV. The documentation notes:Īs an example of one of the strategies employed, bonded Curve ecosystem tokens would be staked on Convex, yielding CVX on top of the native CRV rewards. This is also beneficial for OlympusDAO, since it means OHM liquidity will be locked up in a treasury.Ī feature that distinguishes from OHm is that aims to increase the value of its treasury through the yield-generating strategies that CVX and CRV offer. ![]() Interestingly, also issues OHM-BTRFLY LP bonds for its own version of protocol-owned liquidity. It does so by issuing CVX and CRV bonds, and issuing its OHM-analogue token, BTFLY. cartel is an OHM fork that aims to accumulate as much Curve Wars-related capital as possible. Current $BTRFLY staking APY is ~190,000%.
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