Monitoring xCVP Progress

General Chat CVP Tokenomics & Treasury
1

Hey all. I have a few questions about staking xCVP.

  • Using MetaMask and https://powerindex.io/#/mainnet/xcvp, I was not able to manually set Gas prices to unlock CVP + Stake xCVP. The default was around 6, meaning I had to manually increase via MetaMask (replacing the original transaction). Is this my own oversight, i.e. did I miss a setting somewhere?
  • Will the xCVP staked visibly auto-compound and can that be monitored here? https://powerindex.io/#/mainnet/xcvp — or is that still coming in the Diagram section soon? Or is this something you can only see once you Unstake?

Thanks for all your hard work. Excited about the future of CVP.

1 Like
2

More info will be available at https://powerindex.io/#/mainnet/xcvp later. I can’t give you the exact time, unfortunately.

As for auto-compounding, xCVP has a different reward structure, and when users earn rewards, these rewards don’t affect pool percentage, so there is no need/possibility for auto-compounding as far as my understanding goes.

3

Thanks for your reply! That makes sense. I’m still confused as to how the rewards work, though. Say you stake 100 xCVP. Does this over time grow into 101 xCVP? Or, will you forever see “100 xCVP” as your staked total and only when unstaking the total value will you get 101 xCVP added back to your wallet? (Fictitious numbers, ofcourse)

4

@DrGonzo Any chance you could shed some more light on the above? :slight_smile:

5

Hello, Jazz! Sorry for the late reply.

xCVP works as follows: every time T (not it is once per 3 days) our Power Agent calls the Treasury contract, and trades treasury holdings for CVP (if there is not enough CVP on the contract).

Currently, there are 36 types of tokens in treasury starting from Defi protocol tokens such as YFI AAVE SNX etc, and finishing with some “exotic” tokens such as Yearn Vaults LP tokens - for example, crvBUSD and others. For each token, we have a special strategy for converting it into CVP using Uniswap, our own pools, and more complex strategies.

Your xCVP tokens are a right to claim part of holdings on xCVP contract, what means that amount of CVP that you can claim grows every time new CVP is deposited to the contract by Power Agent.

So yes, it’s can be accounted as auto compounding - you don’t need to re-stake your CVP rewards to the pool over and over again to grow your position in xCVP

6

will I be able to use these CVP rewards together with the staked amount of CVP for votes of the DAO?

7

Yes, it will be added soon. You will be able to use whole CVP stake for voting (CVP that you deposited initially + all CVP earned inside the pool)