$366202: Weekly value of rewards lost in the WETH/yveCRV-DAO pool

Since having yveCRV in your wallet every Thursday sometime between 00:00 and 23:59 UTC gives you claimable rewards in 3CRV these rewards are currently lost if providing liquidity in the pool.

Data sources to calculate the expected weekly earnings from yveCRV:

  1. https://crv.ape.tax/
  2. ape-tax/veCurveVault.vue at c6bbce2e53939522411af43bdfd590722b4c2b60 · banteg/ape-tax · GitHub
  3. https://www.curve.fi/
  4. https://api.coingecko.com/api/v3/simple/price?ids=vecrv-dao-yvault&vs_currencies=usd
  5. SushiSwap

total supply: 5,830,174.08 yveCRV (6.552% of total) [source: link 1 & 2]
yearn vecrv: 7,359,841.85 veCRV (8.271% of total) [source: link 1 & 2]
total vecrv: 88,986,838.91 veCRV [source: link 1 & 2]
Weekly volume (including deposits/withdrawals): $13,243,337,041.73 [source: link 3]
Current price of yveCRV: $2.47 [source: link 4]
Total liquidity in WETH/yveCRV-DAO pool: $19,494,400 [source: link 5]

==== Calculation ====
== 3CRV rewards per veCRV
(([Weekly volume] * [admin fee]) / [total vecrv])
((13243337041.73 * 0.0002) / 88986838.91)

== yveCRV rewards compared to veCRV
([yearn vecrv] / [total supply])
(7359841.85 / 5830174.08)

== 3CRV rewards per yveCRV
[3CRV rewards per veCRV] * [yveCRV rewards compared to veCRV]
((13243337041.730.0002) / 88986838.91) * (7359841.85 / 5830174.08) = 0.03757

== Sushi Swap WETH/yveCRV-DAO pool
(19494400 / 2) / 2.47 = 9747200 total yveCRV locked in pool

== Pool 3CRV rewards
9747200 * 0.03757 = 366202.3

==== Conclusion
$366202 in 3CRV is lost in the contract every Thursday (at current volume).

So… Why not trade these for SUSHI and give them out to pool owners, thus driving up the price and giving even more rewards instead of losing them in a contract?


I think the contracts are immutable, and don’t include a sweep function for unexpected tokens. So to my knowledge there’s no way to retrieve them.

The medium/long term solution is, Yearn (or another helpful community member) would need to make a vault wrapper for yveCRV that captures and automatically reinvests the $ rewards into more yveCRV. Then shift the pool incentives from the current pool to a pool with the new wrapped vault.


I agree with Monet-Supply, however I just figured Yearn was already taking care of it. I have tried going to Curve.fi and collecting but it does not recognize that I own any. Is it because I am currently farming them in Pickle? I have no idea how to retrieve these rewards. HELP! Please, someone tell me why I am unable to claim them? Where is it we are suppose to go? I’ve tried both Sushiswap and Curve.fi. Neither recognize that I own any, but I do, they are being farmed in Pickle. It says, " if providing liquidity in the pool." I have not put any liquidity into the 3CRV pool. Is that why?


Anyone going to answer our question?

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There is no way to retrieve the rewards currently. The SUSHI rewards luckily are much higher than the 3crv lost.

True that, but you’re also exposed to impermanent loss. :slight_smile:

And that number was from one of the weeks where fees were like 2,6 mil so they are currently 10x the historic average and like 2-4x the “normal” weekly rewards currently.

Yeah we need Yearn (or someone else who knows how to code) to make a vault wrapper for yveCRV. Whoever implements this might be able to earn some strategist fees for their trouble :thinking:

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