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## Curve ## curve
<br>
### tl; dr ### tl; dr
<br>
* Curve, whose unique feature is the low slippage in swapping, is a decentralised exchange (DEX) for stablecoins to swap pairs like USDT/UST or USDC/BUSD.  * Curve, whose unique feature is the low slippage in swapping, is a decentralised exchange (DEX) for stablecoins to swap pairs like USDT/UST or USDC/BUSD. 
* CRV is the native token, whose main utility is governance. * CRV is the native token, whose main utility is governance.
* People need to lock CRV to get veCRV to vote on decisions. The most important one is voting on allocation of rewards. * People need to lock CRV to get veCRV to vote on decisions. The most important one is voting on allocation of rewards.
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### curve liquid wrappers war ### curve liquid wrappers war
<br>
* veToken model allows users to lock CRV for up 4 years, receive admin fees (paid in stables), and allows them to vote for CRV emissions for the pool. * veToken model allows users to lock CRV for up 4 years, receive admin fees (paid in stables), and allows them to vote for CRV emissions for the pool.
* protocols seeking liquidity have the option to bribe ve CRV holders to stream CRV emissions to their pools (nother source of revenue besides admin fees). * protocols seeking liquidity have the option to bribe ve CRV holders to stream CRV emissions to their pools (nother source of revenue besides admin fees).
* since locking CRV for 4 years is not very attractive for holders, introduce liquid wrappers: cvxCRV, sdCRV, yCRV. * since locking CRV for 4 years is not very attractive for holders, introduce liquid wrappers: cvxCRV, sdCRV, yCRV.
* liquid wrappers allow CRV holders to receive fees and/or bribes without locking it for 4 years and provide a chance to exit the position. * liquid wrappers allow CRV holders to receive fees and/or bribes without locking it for 4 years and provide a chance to exit the position.
* trade-offs for liquid wrappers are: protocol fees, peg maintenance, and voting power. * trade-offs for liquid wrappers are: protocol fees, peg maintenance, and voting power.
##### cvxCRV ##### cvxCRV
* by stacking cvxCRV, holders earn 3crv fees plus a share of 10% of the Convex LPs' boosted CRV earnings, plus CVX tokens. * by stacking cvxCRV, holders earn 3crv fees plus a share of 10% of the Convex LPs' boosted CRV earnings, plus CVX tokens.
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### resources ### resources
<br>
* [10M Revenue Drain in 5 Months: MEV impact on Curve](https://medium.com/@eigenphi/10m-revenue-drain-in-5-months-mev-impact-on-curve-fd5214a0667) * [10M Revenue Drain in 5 Months: MEV impact on Curve](https://medium.com/@eigenphi/10m-revenue-drain-in-5-months-mev-impact-on-curve-fd5214a0667)
* [Curve Stablecoin Paper](https://github.com/curvefi/curve-stablecoin/blob/master/doc/curve-stablecoin.pdf) * [Curve Stablecoin Paper](https://github.com/curvefi/curve-stablecoin/blob/master/doc/curve-stablecoin.pdf)