1) A 🧵 on protocol bribes
The term bribes may sound shady but it simply denotes providing incentives by a third party under an entirely transparent mechanism in the context of crypto. Let's take the case of Curve and Convex as an example.
#CurveFinance #Convex #YieldFarming
The term bribes may sound shady but it simply denotes providing incentives by a third party under an entirely transparent mechanism in the context of crypto. Let's take the case of Curve and Convex as an example.
#CurveFinance #Convex #YieldFarming
2) The elegance of Curve Finance lies in its $CRV tokenomics, which create a flywheel effect that incentivizes the accumulation of $CRV:
3) -Curve LPs receive $CRV as the mining rewards
-$CRV holders can allocate their votes to the pool to increase its share of $CRV emission
-Users gain more voting power by locking more $CRV for $veCRV
-$CRV holders can allocate their votes to the pool to increase its share of $CRV emission
-Users gain more voting power by locking more $CRV for $veCRV
4) $CRV emissions thus become a lucrative incentive for various protocols to pay $CRV holders to vote for their preferred pools as a way of controlling $CRV emissions.
5) Convex Finance operates as a yield aggregator for Curve LPs and has a vlCVX strategy to control how Convex votes on $CRV rewards emission to the Curve pools through its veCRV treasury.
6) With 16b TVL and controlling over 50% of the voting power of Curve, Convex acts as a union controlling $CRV emissions for various pools through $CVX locking.
By participating in bribes, $CVX holders potentially earn over $422m in incentives over a 1 year period.
By participating in bribes, $CVX holders potentially earn over $422m in incentives over a 1 year period.
7) The emergence of protocols such as Bribe.crv and Votium legitimizes veCRV holder bribes as a means of influencing CRV rewards emissions. 
8) At our core, Echidna elevates Platypus as an investment vehicle with mutual benefit. By achieving increased TVL, accumulating $PTP and supercharging LP rewards, we are confident we will follow the same upward trajectory experienced by Curve and Convex together.
9) Locking $ECD for $veECD will give our users the ability to have a levered $PTP governance position and earn income from bribes. Every $ECD locked will strengthen our partnership with Platypus and other stablecoin protocols, which is beneficial for the Platypus ecosystem.
10) $ECD locking ➡️ governance ➡️ bribes ➡️ revenue ➡️ more $ECD locking
11) TL;DR: With $UST, $FRAX and $MIM listing on #Platypus, expect some insane bribes for $PTP. Lock $ECD to accrue $veECD before the #PTParty begins!
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