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Convex FinanceConvex Financeby0x724061efDFef4a421e8be05133ad24922D07b5Bf0x7240…b5Bf

[Convex] Remove all gauge-weight voting hard caps.

Voting ended almost 3 years agoSucceeded

 Quorum: 7.88m CVX

As previously communicated, Convex will continue to look to raise the hard cap on gauge-weight voting. During the early days of vlCVX gauge-weight voting, the maximum weight for any single pool was set to 30%. In December 2021, Convex most recently raised this cap from 30% to 50%. In May 2022, we raised the hard cap to 70%.

Approximately 11 months have passed since the last adjustment. Governance participation has remained strong, and side-chains have been deployed, removing the need to cap side-chain gauge votes. As such, the Convex team believes it would be appropriate to remove all caps from gauge weight votes. The minimum vote weight of 0.1% should remain, but all maximum limits on gauge weight votes should be removed.

The Convex team proposes removing all hard-caps to include CRV paired gauges and side-chain gauges. If approved, these changes will go into effect for the gauge weight vote on April 13th.

Off-Chain Vote

For: Remove all hard caps
10.43M CVX99.9%
Against: keep existing hard caps
10.14K CVX0.1%
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Timeline

Apr 11, 2023Proposal created
Apr 11, 2023Proposal vote started
Apr 16, 2023Proposal vote ended
Oct 26, 2023Proposal updated