Stake DAO sdCRV Gauge

What is Stake DAO sdCRV Gauge?

Stake DAO sdCRV Gauge allows holders of sdCRV (Stake DAO's liquid-locked CRV) to stake their tokens and earn enhanced rewards. sdCRV represents CRV that has been locked in Stake DAO's liquid locker system.

How Liquid Lockers Work

Stake DAO's liquid locker mechanism:

Users deposit CRV into Stake DAO's locker
Receive sdCRV tokens (liquid representation of locked CRV)
Stake DAO locks CRV as veCRV for maximum boost
sdCRV holders earn rewards generated by the locked position
sdCRV can be staked in gauges for additional rewards

Advantage: Get liquidity and tradability while earning veCRV-like rewards.

sdCRV vs veCRV

veCRV (Native Curve):

Locked for up to 4 years
Cannot be transferred or traded
Earns protocol fees and gauge boost

sdCRV (Stake DAO):

Liquid and tradable
Backed by Stake DAO's veCRV
Earns share of rewards through gauges
May trade at discount to CRV

Fee Structure

Stake DAO charges:

15% performance fee on harvested rewards
Fees distributed to the Stake DAO ecosystem

Yield Sources

sdCRV gauge rewards come from:

Share of Curve protocol trading fees
Bribes received for gauge votes
sdCRV gauge emissions (SDT tokens)
Additional incentives

The high APY reflects the combined yield sources.

Risk Disclosures

Smart Contract Risk: Exposure to Stake DAO locker contracts, gauge contracts, and Curve underlying. Liquidity Risk: sdCRV may trade at a discount to CRV, especially during market stress. You may not be able to exit 1:1. Depeg Risk: sdCRV is not directly redeemable for CRV. Its value depends on secondary market liquidity. Protocol Risk: Stake DAO's ability to manage the veCRV position affects sdCRV value. Governance Risk: Curve and Stake DAO governance decisions affect reward rates. Complex Mechanics: Multiple layers of token mechanics make full risk assessment difficult.