cCRV.finance - HackMD

cCRV.finance === [Github](https://github.com/CongruentFi/ccrv-contracts) [Twitter](https://twitter.com/cCRVfinance) [Discord](https://discord.gg/CnEdvXN7) [Tri-CRV Pool](https://curve.fi/factory/106) # Table of Contents [TOC] # What is cCRV? cCRV is essentially converted cvxCRV, and each cCRV is backed by 1 cvxCRV --- # What solution does cCRV provide? ## Tri-CRV Pool & cCRV staking system cCRV takes in cvxCRV and converts it to cCRV. The cvxCRV is then locked in order to generate consistent yield. The cCRV emissions are then combined with the Convex yield to offer a combined yield that is higher than the regular Convex yield. ##### **Convex yield distribute workflow** ``` cvxCRV -> Convex -> Rewards -> crv -> cCRV stake pool -> cvx -> cCRV stake pool -> 3crv -> Congruent DAO holders ``` ----- cCRV creates a Tri-CRV pool on Curve (CRV+cvxCRV+cCRV) and gauge emissions are used to attract liquidity and thereby assist in tightening the CRV-cvxCRV-ccRV peg. ##### **stake pool workflow** ``` cCRV -> cCRV stake pool -> Rewards -> crv -> cvx ``` ``` Tri-CRV Lp -> cCRV lp stake pool -> Rewards -> crv -> cvx ``` ----- ### To make Convex even better Despite Convex holding a large number of veCRV, it still holds less than 50% of all veCRV and so still has room to hold even more. Each locked vlCVX currently represents 4.8 locked veCRV (as of Mar.30), which means that CVX is trading at a premium. The more value that CRV holds, the more ve-type services it can create and offer. Over 80% of possible CVX tokens have already been emitted, which means that Convex will likely require additional strategies going forward in order to ensure consistent yields. # Who is backing ccrv.finance cCRV is backed by Congruent DAO, which is a DAO focusing on researching the Governance (GovFi) space and finding innovative governance solutions. The aim is to use cCRV as an initial foray into the Curve Wars, and to then expand its influence across DeFi governance. :::info #### What are the benefits of Congruent DAO? ##### The goal of cCRV is to stake all cvxCRV on Convex and to distribute the yield from the 3crv tokens to Congruent DAO. The underlying logic is to assist Convex to shore up its position within the Curve Wars and, thereby, bolster the flywheel. As Convex and Curve continue to grow and prosper, the cvxCRV held by Congruent will generate increasing income. Congruent does not compete with any of the current participants in the Curve Wars and, instead, cooperates with certain other participants to create mutually beneficial arrangements. ::: # Vote Incentive ![](https://i.imgur.com/wYumAof.jpg) These CRV will be converted to cvxCRV, and then used to mint cCRV tokens. Because the objective of the cCRV endeavour is to tighten the peg of cvxCRV, liquidity for cCRV will be created on Curve and cCRV will be distributed to those who support cCRV in gauge voting. cCRV rewards will be added to: https://bribe.ccrv.finance/ or https://votium.app/ | Week | Vote Incentive (cCRV) | -------- | -------- | 1 | 50,000 | 2 | 50,000 | 3 | 50,000 | 4 | 50,000 | 5 | 50,000 | 6 | 50,000 | 7 | 50,000 | 8 | 50,000 | Total | 400,000 ---- # Roadmap ## Development : - [ ] Smart Contract - [x] Audit [link](https://omniscia.io/congruent-crv-integrated-rewards/) - [ ] Deploy - [ ] Phase1 Fully Launch **Phase2** ... ---- ## Operation : - [ ] Dune Analytics - [ ] Phase2 Doc/Deck Release **Phase3** --- # Smart Contract ``` Convex Finance cvxCRV: 0x62B9c7356A2Dc64a1969e19C23e4f579F9810Aa7 cvxCRV Rewards: 0x3Fe65692bfCD0e6CF84cB1E7d24108E434A7587e Convex CRV Depositor: 0x8014595f2ab54cd7c604b00e9fb932176fdc86ae ``` ``` Curve Finance CRV: 0xD533a949740bb3306d119CC777fa900bA034cd52 CRV Minter: 0xd061D61a4d941c39E5453435B6345Dc261C2fcE0 TriCRV Pool/LP: 0x6577b46a566aDe492ad551a315c04DE3Fbe3DbFa ``` ``` cCRV Finance cCRV: 0xd6ecDfD41dDB7167F3eD9b37f33Fb24D57543E26 TriCRV Gauge: 0x9250efEa432379A5565b3Df3E36F83d99FA41127 cvxCRVDepositor Proxy: 0x1fc8D51716EB523d1d85466F9a9B574Ff68ef593 cvxCRVDepositor Impl: 0x34C671054E0C9a3dEe5847Fd04b15Ae0e151Fd0a cCRV Pool Proxy: 0x6f1Eeb5Dec781759F26f9aDbaEaB92bd40BC3F73 cCRV Pool Impl: 0x2A83E81989B7f0Df25A3bc07C549af8328B3cabC cCRV CVX Pool Proxy: 0x46FC1e7cBE439fd83F531a256B4500B2df4226c6 cCRV CVX Pool Impl: 0x07c57A0cF8b0BB28506C731E31DE6292dA72a20C TriCRV LP Pool Proxy: 0x8603B1C4b2A62fec9502d6dD13f0DA8811f405e4 TriCRV LP Pool Impl: 0x4cAf0aBA18F37f5c312b4Ef9e1d97DbFd8e170f8 TriCRV LP CVX Pool Proxy: 0xf7D82F21100Cf934cfFB346626D593a34Dd43abe TriCRV LP CVX Pool Impl: 0x2858C0FCFd6CA16BbA0C5D06Dc55F682B9c4CF93 RewardDistributor Proxy: 0x1511C9A4be93126b63c2E44A5B86A0e3DB1F45Fb RewardDistributor Impl: 0x79785c6FaEA18B67540799cEBB213fA3016dF351 ``` # Additional Clarification - cCRV is converted from cvxCRV, which means that cCRV will initially not have a native project token. So, please do not fall for any information claiming that there is a native project token for cCRV. - cCRV has no plans for fundraising so far and is fully backed by Congruent DAO. So, please also do not fall for any messages or notices regarding any fundraising for cCRV. - cCRV has been created and backed by Congruent DAO and its Core Team, which means that cCRV is 100%-owned by Congruent DAO. Only those from the Congruent DAO Core Team are authorized to speak or act on behalf of cCRV. - Any plans for a native project token or for fundraising for cCRV will be decided by way of a proposal followed by a vote in Congruent DAO and, therefore, cannot be decided by a single individual or small team of people. # Guide ### Multi-sig The **4/7** multisig wallet on Ethereum： 0x4a6bf7737b54195BFB72030d8F2bf7Cf2b466dC3 The following 7 individuals will have Multi-sig rights: [Holy ](https://twitter.com/Web3holy) [Carrot](https://twitter.com/0xCarrotM) [bMeta](https://twitter.com/bmeta3333) [1xNW](https://twitter.com/Meta1xNW) [Freddy](https://twitter.com/Freddy_G_Meta) [DegenBing](https://twitter.com/Degenbing) [Bitpan](https://twitter.com/Bitpan8)

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