I wrote earlier here on how to farm CRV Yield Farming with CurveDAO but recently the team at Curve announced that you can increase your rewards up to 2.5x!
You can check the current rates for Curve Liquidity providing on their website https://www.curve.fi/
You can follow my previous guide up to Step 7. To get the 2.5x boost here’s the steps you’ll need!
- First you’ll need to get/buy CRV, but how much do you need? Well, you can use this calculator (https://dao.curve.fi/minter/calc) to find out how much CRV you need to get for up to 2.5x boost. NOTE : Boost is not permanent, the more people lock, the more CRV you’ll need to lock too. BONUS TIP: The longer you lock your CRV, the lesser CRV needed for a 2.5x boost
As you can see here, I need to lock 307.28 veCRV for 4 years to get a 2.5x boost if I deposit 100,000 yCurve
- After calculating how much Curve you need, go to https://dao.curve.fi/locker and lock your curve
There are two transactions for this, approving spending and swapping (CRV for veCRV)
- OPTIONAL: With your veCRV, you can use it to vote! Go to https://dao.curve.fi/gaugeweight and vote for the pool you are currently providing liquidity for, by doing this, you’ll increase the chance of your pool getting more rewards. Note that these weights only update weekly every Thursday at midnight UTC, so you can also save your CRV till then to vote!
BPS means basis points, 100 BPS = 1% so if you want 100% of your voting weight to go to a certain gauge input 10,000 as the “weight of your voting”. Once this is done, click on submit and confirm the transactiosn
- After voting, remember to apply the boost by going to : https://dao.curve.fi/. Scroll down to the gauge that you are providing liquidity for
Click on “Claim CRV” and confirm the transaction.
Note : To update your boost ratio, you can do this by claiming/depositing or withdrawing from the gauge.
- Once the transaction is confirmed, refresh the page and scroll back to the gauge:
You’ll see that your current boost has now increased!
- That’s all for now, note that your boost is NOT PERMANENT. you will have to increase it from time to time to maintain it. Since gas costs are expensive, I recommend boosting only once a week or as you wish
- Lock enough $CRV till you get a 2.5x boost
- Leave it for a while to farm enough $CRV so you can top up as necessary when your boost decreases.