yveCRV Rewards Analysis
In this dashboard, we will see how many users are claiming rewards weekly in yveCRV and amount of gas fee yveCRV holders have spent since the launch of yvBoost vault and will analyze if those users of the yveCRV vault made good decisions about claiming tokens with regard to the gas fees.
yveCRV stands for veCRV-DAO yVault through which we can deposit CRV to earn weekly rewards of 3CRV, and these rewards can be claimed through the Restake or Claim buttons.
yveCRV converts your Curve Rewards Vault into yveCRV, so you earn a continuous share of Curve's trading fees. You can claim these rewards every week by clicking on the Claim button. This reward is granted in the form of a 3Crv token, created by Curve for its 3pool LP. The rewards can also be restaked into more yveCRV by clicking the Restake button.
Thus, when a user deposits CRV into the vault, the CRV is locked on the Curve.fi platform as veCRV; on retrieval, the user receives a tokenized version of veCRV, called yveCRV. This vault pays you a continuous share of Curve's trading fee. These rewards can be claimed every week in the form of 3Crv (Curve's 3pool LP token).
You can double your rewards by using this vault, as Yearn donates 10% of the CRV it earns through all Curve.fi strategies to this vault, and yveCRV vault depositors receive Yearn's share of Curve protocol fees. Hence, Yearn's incentive rewards will be transferred to yveCRV depositors, strengthening their weekly rewards.
yvBOOST, on the other hand is a Yearn Compounding veCRV yVault launched, which is a fully automated and compounding version of the yveCRV yVault, as this vault claims your weekly 3CRV rewards automatically and uses them to acquire more yveCRV (either via market-buy or mint, depending on which is most efficient at time of harvest).
So, yveCRV Vault users can claim rewards weekly, yvBOOST users have their rewards automatically claimed and reinvests into yveCRV to compound rewards. Here is the list of yveCRV holders with their balance as per the transaction details over the past 6 months
As any CRV staked in Curve's voting escrow is perpetually staked, there is no reversal of the acquisition: CRV can only be turned into yveCRV. So, the transaction is non-reversible, as you can only convert CRV into yveCRV, as any deposited CRV is perpetually staked in Curve's voting escrow.
This graph shows the list of yveCRV Holders with their user address and balance details available over the past 6 months on Ethereum network.
The gas fee, or pricing value, is what you have to pay to successfully complete a transaction on the Ethereum blockchain platform. A gas's exact price is determined by supply and demand between the network's miners, who can refuse to process a transaction if the gas price does not meet their threshold, and users of the network who seek processing power.
This graph shows the list of yvBOOST Holders with their user address and balance details available over the past 6 months on Ethereum network.
yveCRV Vault users can claim rewards weekly, where as yvBOOST users have their rewards automatically claimed and reinvests into yveCRV to compound rewards. This graph shows the list of yveCRV rewards claimed every week over the past 6 months on Ethereum block chain.
Here is the graph that shows the gas fee spent, gas fee limit and the gas fee price trend for yveCRV vault transactions over the past 6 months on the Ethereum blockchain network.
Observations:
From the above visualizations on claiming and gas fee point of view, when compared we could see that most of the users moved into the yvBOOST vault, possibly getting some yveCRV from sushiswap directly as you will get more yveCRV than if you bought crv and deposited them in the contract, to gain compounded rewards.