Understanding ysCVG
ysCVG
stands for yield sharing CVG
, and represents a claiming right over treasury's profits that are streamed over 3 months after each TDE
(Treasury Distribution Event). ysCVG
does not hold any governance right over the Convergence protocol.
ysCVG
rewards are initially distributed as CRV
, CVX
, andFXS
. More tokens can be added following DAO's votes.
The amount of ysCVG
a user will receive by locking CVG
depends on how long CVG
are locked. The longer a user locks CVG
, the more ysCVG
his NFT
will receive.
However, when a lock is created during an ongoing tdeCycle
N (1 tdeCycle
is equal to 12 cvgCycle
), the amount of ysCVG
is adjusted to how many cvgCycle
the lock will last within the current tdeCycle
N. The full ysCVG
amount will be updated at the beginning of the tdeCycle
N + 1.
Unlike veCVG
, the full ysCVG
amount remains the same until the end of the lock, and does not decrease. Rewards distribution will be done according to users shares of ysCVG
.
Last updated