TechFlow news, the Frax Finance community, a hybrid algorithmic stablecoin protocol, has released a new governance proposal suggesting that all CRV and CVX rewards earned from the Frax Basepool should be locked. Specifically, all CVX will be locked into vlCVX; at least 5% of CRV will be locked into veCRV; the remaining CRV will either be locked or exchanged for cvxCRV. The cvxCRV can be used for voting incentives, and any unused cvxCRV will be deployed to generate yield.
The proposal's author stated that this move aims to reduce selling pressure on CRV and CVX while continuing to provide incentives for FRAX liquidity pools and the Basepool.
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