Curve to Hand $3M in Fees to Governance Token Owners

by in DeFi News

Curve votes 11.28.2020

DeFi project Curve Finance voted to issue about $3 M in collected fees to the protocol's governance token owners.

Related: Voting Requests of TRON Network were Approved

The decision was made on Friday after a week-lasted voting course considering the issue of managing fees. In three days the network will direct some $2,631,601.92 amount of pays to user funds.

Curve CEO Michael Egorov told that after the primary payments, the platform will proceed to disperse fees weekly. Curve’s latest vote is a good example of shared governance, where customers are motivated to take part by investing first.

The vote was held consistently with 95 picks were in favor which is 49.75% of the whole available voting pool.

For taking part in a voting process, users need to stake CRV assets to the protocol’s voting contract getting veCRV instead, forming a sort of voting security. From the start of autumn, veCRV owners have received 50 percent of the 0.04% exchange fee the system charges and the other 50 percent went to liquidity providers.