veCVE

The CVE token can be converted to veCVE via the vote-escrow smart contract, which follows a modernized voting escrow model. CVE can be locked up for a period of time (12 months) to gain access to DAO voting and other benefits.

Locking mechanisms inside Curvance vary from conventional methods, allowing for only a single duration of one year. Like many other systems, token voting power decreases linearly as the lock matures. The issue of the necessity to constantly relock to maximize voting power has been addressed with the addition of a "Continuous Lock" mode. This mode allows a user to keep their veCVE position at a full-duration lock that can be enabled or disabled at any time and provides a modest boost to voting power, and a large boost to protocol fees.

Locking CVE for veCVE

By locking CVE as veCVE, a user can access platform fees, voting power for gauge emissions, and potentially even bribes.

Note: While on "Continuous Lock," a veCVE position will stay continuously at a full 12-month lock. This can be disabled anytime, allowing the lock timer and voting power to decrease linearly. It can also be re-enabled at any time, which will boost the lock duration back to full length and re-enable the boost to voting power. A user can do this an unlimited number of times.

Combining Locks

Users can also opt into combining and condensing their locks; this re-extends the lock back to max duration and cleans up a user's UI/UX interface.

Rewards

Rewards can be distributed proportionally to holders of veCVE. For example, if there are 10,000 veCVE in existence and you own 1,000 of those locked tokens, you would theoretically earn 10% of all fees generated on the platform.

The above scenario is a general guideline; the reward distribution depends on the number of token holders using continuous locks within Curvance.

veCVE-lock Migration Service

Utilizing Wormhole, the protocol allows users to move their CVE and veCVE tokens from one chain to another.

This has multiple benefits:

• Make use of lower TX fees.

• Make use of faster block times.

• Tokens will never be stuck on one chain.

Example: Timothy locked CVE for veCVE in the continuous lock on Ethereum. He did this at a time when gas prices were low; now gas prices are high.

Thanks to the versatility of Curvance, Timothy is able to use the migration service to move his locked veCVE from Ethereum to Arbitrum, where he is able to enjoy lower transaction fees and faster block times.

The migration service allows for flexibility and consistency. Users can choose where to store and use their veCVE based on their preferences, whether for lower transaction fees, better security, or deeper liquidity.