Accept Curve DAO Payments

CRV serves as Curve Finance's governance token, utilizing a sophisticated time-based staking mechanism to convert CRV into veCRV—an internal token designated for governance and entitled to claim protocol-generated cash flows.

The conversion ratios are as follows:

- 1 CRV locked for 4 years = 1 veCRV

- 1 CRV locked for 3 years = 0.75 veCRV

- 1 CRV locked for 2 years = 0.50 veCRV

- 1 CRV locked for 1 year = 0.25 veCRV

On August 14, 2020, Curve Finance executed one of the most extensive retroactive token airdrops, rewarding early users with a vesting period extending up to 4 years. The platform aims to implement yield farming across all its pools, with the weighting of rewards determined by veCRV holders through voting.

Yield Farming signifies the practice of depositing and locking capital within a DeFi Protocol to receive the protocol's native tokens as rewards. DeFi protocols rely on bootstrapping capital to provide liquidity for exchanges, lending to borrowers, and managing insurance risk. It acts as an incentive for users to engage with the protocol while concurrently generating interest by distributing portions of its native tokens.