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$CRV Token Rights

Updated May 01, 2026

Overview

Token(s)
CRVveCRV
Token Type
GovernanceUtility
Utility
Liquidity Incentives

CRV token holders gain veCRV by locking tokens (up to 4 years) for time-weighted governance voting on DAO proposals and value accrual via 50% of trading fees

Governance Rights

Control

veCRV holders control protocol operations through the Aragon Agent contract: gauge additions, pool parameters, fee routing, and protocol expansion. Core pool and CRV token contracts are immutable. A 5-of-9 Emergency DAO multisig can pause gauges but the DAO can override its decisions.

Governance Decisions

veCRV

veCRV holders vote through Aragon v1's Voting Contract with execution via the Agent contract. Proposal creation requires 2,500 veCRV minimum. Ownership votes require 30% quorum and 51% support; Parameter votes require 15% quorum and 51% support. Voting lasts 7 days.

Treasury Decisions

veCRV

Curve has no treasury. 50% of trading fees flow directly to veCRV holders. veCRV governance votes on CRV grants and credit lines for development.

Revenue Decisions

veCRV

veCRV holders control fee parameters via the Agent contract. Pool fee changes and burner attachment are gated by ownership_admin which is the Agent. The 50% admin fee share was set by governance vote

Fee Switch

ON

50% of all pool trading fees distributed weekly to veCRV holders as crvUSD. 80% of crvUSD lending interest also flows to veCRV holders (remaining 20% to scrvUSD savings vault). Fees converted via CowSwap and distributed every Thursday.

Resources

Foundation Multisigs / Addresses

0x467947EE34aF926cF1DCac093870f613C96B1E0c

Primary Value Accrual

Protocol Revenue Share

Value accrues through trading fees distributed to veCRV holders via crvUSD. A portion of crvUSD lending interest and bribes also flow to veCRV holders.

Equity Statement

Swiss Stake AG (core development company) is funded through DAO-approved CRV grants. No equity entity receives protocol fees.

Economic Rights

Value Capture

50% of trading fees distributed weekly to veCRV holders, 80% of accrued interest from crvUSD lending markets goes to veCRV holders

Buybacks

N/A

No buyback mechanism is currently active

Dividends

veCRV

50% of all pool trading fees plus 80% of crvUSD lending interest are converted to crvUSD and distributed weekly to veCRV holders, proportional to each holder's veCRV balance. Distribution occurs every Thursday

Burns

N/A

No burn mechanism is currently active

Ownership

Raise History

1 round · $5m total
DateAmountRoundValuation
Aug 10, 2023$5mPrivate—
Fundraising
None
Equity Revenue Capture
No
Associated Entities
DAODevCo
IP & Brand
Swiss Stake AG
Domain
Swiss Stake AG