Summoning Warden, the veKnight by Paladin
The Curve Wars is one of the hottest topics in DeFi, pushing DAOs to wage influence wars in order to attract liquidity and utility to their own tokens or protocols.
A collateral victim of these large scale wars has been individual holders, especially veCRV holders. These users are left to spectate on the success of Convex and the lucrative bribes even though they own the same voting rights (governance, gauge weight voting and boosts) as CVX holders and still remain a majority in the Curve DAO.
We built Warden to recenter the Curve Wars around these individual holders.
What is Warden ?
Warden is a non-custodial veBoost marketplace that was built to empower back veCRV users by creating a new revenue stream for them without the veCRV leaving their wallet.
The dapp enables veCRV holders to temporarily sell a portion of their boosts to Curve LPs while using the rest for themselves.
This will allow sophisticated farmers and yield aggregators to optimize their strategies while offering extra revenue to currently locked and unused veCRV.
The product is set to release mid-January.
Creating a healthy Curve flywheel
Paladin is driven by the belief that flywheels need to create positive feedback loops for the protocols they use. For this reason, Warden is a permissionless, neutral middleware that enables composability on top of veBoosts.
All boosts are bought in CRV to push buyers into the ecosystem and give an opportunity to auto-compound for sellers.
Through these mechanisms, smaller holders can set & forget in exchange for additional APY, even taking high gas fees into account.
Here’s what you can do with Warden
As a veCRV owner:
- List your veCRV balance on the market for automated selling
- Set your rate and get paid in CRV
- Control exactly how much of your balance buyers can use, saving the rest for yourself
- Add or remove your veCRV from the market at anytime with no penalties
As a veBoost Buyer:
- Buy a veBoost for your Curve LP for as long as you need
- Max out the boosts on your positions for optimal yield
- Soon, know exactly how much veCRV you need for optimal farming, with the Warden calculator
The Warden Rabbithole
The current iteration of Warden is a basic marketplace enabling the trade of veBoosts. In the near future this will enable composable yield strategies that automatically maximize boost, package multiple boost offers into larger offers, and expand to similar token models.
Who is Paladin DAO :
Paladin is a project specialized in governance lending. We are convinced that scaling trust with decentralization is the future of organizations.
The core team began exploring vote lending in January 2021 and released Paladin Lending in September 2021. Since then it has accumulated 7M$+ in TVL and has decentralized its decision-making process to the Paladin DAO.
PS : Any Curve governance contributor can join the Paladin DAO by claiming tokens distributed to those who voted in a Curve proposal on-chain.
IMPORTANT : This dapp is only compatible with Factory pools & Liquidity Gauge v4, previous Gauges cannot be boosted this way.
As this dApp grants absolutely no control over anything else than the delegation of the asset, Warden was launched unaudited, please use with caution.