Summary: Abra bribes veCRV directly thru bribe.crv.finance for their mim-3crv

Question

Summary: Abra bribes veCRV directly thru bribe.crv.finance for their mim-3crv

pool and it seems to be a lot more cost efficient than votium bribes. I've done some digging and here are the numbers:
Highlight: Abracadabra is only spending 20% of what Frax spends on Votium bribes but get 55% of frax pool's gauge weight. Why doesn't frax consider doing some bribes that way? There could potentially be millions of bribes savings on a weekly basis and that could translate into tens of millions a year.

Detailed numbers: abra spends about 4.3 SPELL per veCRV on votes and they spend just about $660k per week to get 10.91% gauge weight for the mim-pool. On the other hand, frax spends $6.7M per votium round, which translates to about $3.3M per week to get 19.8% gauge weight. If Frax moves bribes to the veCRV bribe contract, it could save over $1M every week.

The frontend bribe.crv.finance will go down in April but the contracts are immutable and I'm sure the chads in the team can interact directly with the contract: https://etherscan.io/address/0x7893bbb46613d7a4fbcc31dab4c9b823ffee1026

#cryptocurrency #english #frax

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19.03.2022

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Sam Kazemian ¤⛓️¤ · Accepted Answer

Sam Kazemian ¤⛓️¤

We really gotta try bribe.crv.finance ya. I think it is a great place to do bribes and have been meaning to allocate part of the bribe allotment that governance passed to this in addition to the Votium amount.

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19.03.2022

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Summary: Abra bribes veCRV directly thru bribe.crv.finance for their mim-3crv

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