Curve Finance community to vote on $60M proposal to make CRV a yield-bearing asset
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The new Yield Basis would allocate 35%-65% of its value to holders of vote-escrowed CRV, while an additional 25% would be reserved for the ecosystem.
The Curve Finance decentralized autonomous organization (DAO) is voting on a proposal that could open up new income streams for the protocol and its ecosystem.
The proposal, introduced in August by founder Michael Egorov, would establish a $60 million credit line of crvUSD for Yield Basis. Voting began on Wednesday, with 97% of votes cast in support of the proposal at this writing.
Under the Yield Basis, holders of CRV who stake their tokens would receive veCRV (vote-escrowed CRV) in return, essentially creating income for stakers. Yield Basis would return between 35% and 65% of its value to holders of veCRV, while an additional 25% would be reserved for the ecosystem.
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