In Brief:
- Curve DAO community votes in approval of idle fee burning update.
- The proposal received 100% of support with a total of 15 votes.
- Newly introduced crypto pools and stableswap factory pools will be handled more efficiently with the update.
The Curve DAO community has voted in approval of the idle fee burning update proposal with 100% support.
According to the criteria, more than 51% of voters should have voted in approval and more than 30% of the community should have interacted with the process.
At the end of voting thankfully 100% votes were in approval and 58.54% of users have interacted with the process bringing the proposal to succeed.
With the update being approved, fees from newly introduced crypto pools and stableswap factory pools will be handled more efficiently.
A total of 15 votes were cast in the voting process open to all Curve DAO community members holding veCRV.
To cast a vote a user had to have at least 2500veCRV with them. A user with more than 2500 veCRV had the ability to cast additional votes.
veCRV stands for vote-escrowed CRV, which signifies that the CRV is locked for voting for a defined period of time. The more you lock CRV, the more veCRV you gain, which means the user has greater voting power.
