What’s a bribe? In DeFi, incentives for voting are commonly referred to as ‘bribes’.
How does yBribe work? A user interacts with yBribe by claiming or offering a bribe. Voting occurs directly on Curve's contracts. yBribe performs relevant calculations and distributions of those rewards.
Will I be able to convert my bribes into another token? No
What is the countdown timer on the main page? It is how long users have left to claim their rewards from the current period and get their vote in for the next period. It’s midnight wednesday to Thursday (00:00 UTC Thursday) every week that the new round starts.
Can we claim on L2? No
Will there be a bribe system for yCRV or veYFI? yBribe is a generic system that anyone can use. We are not planning on making a bribe system just for yCRV or veYFI at this time.
What is the 1% fee used for? To support continued development and new features.
What is veCRV? Participating in Curve DAO governance requires that an account have a balance of vote-escrowed CRV (veCRV). veCRV is a non-standard ERC20 implementation and cannot be transferred. The only way to obtain veCRV is by locking CRV. The maximum lock time is four years. One CRV locked for four years provides an initial balance of one veCRV. These rewards are generated by the 0.04% swap fees that Curve charges on each trade. 50% of these fees go to users who add to the liquidity pools and 50% goes to users who hold veCRV.