🚨 IMPORTANT NOTE FOR ALL $CVX LOCKERS 🚨
With the launch of on-chain voting on
@ConvexFinance, delegation for voting power for on-chain governance issues and gauge votes has NOW BEEN SEPARATED.
The screenshot below is directly from the
@ConvexFinance website on the "Lock CVX" page, after connecting your wallet. Let's take a look at why this is important:
Prior to this, when you delegated on the
@ConvexFinance website, you gave whoever you delegated your CVX to your voting power for BOTH gauge voting (this is how you get you weekly or bi-weekly bribes/payments) AND governance voting (this was vote power that could be used in governance related issues, separate from the yield-bearing gauge voting mentioned earlier).
NOW, you have the option to delegate to separate entities for each of these (gauge voting power vs governance voting power).
I've attached the screenshot below to make this simple for you all:
You can see on the right hand side there are now TWO options to delegate to instead of one. The first option in BLUE, the "gauge weight votes delegate" will determine who you delegate to for your weekly/biweekly yield that you're earning. For me, that is
@StakeDAOHQ, as seen in GREEN in the screenshot below, but this might also be
@VotiumProtocol for you- which is fine.
The second blue box labeled "DAO votes delegate" is exclusively for governance voting power. If you haven't selected this since the update went in place, you'll see the box empty (as in the screenshot below).
As a holder of $CVX, I personally believe that when it comes to governance voting issues, the
@ConvexFinance team itself will likely be most aligned with my own interests (as opposed to other parties), and so I personally recommend delegating the "DAO votes delegate" to the Convex finance team, which you can do by simply clicking the blue button in the GREEN box at the bottom of this screenshot.
This will give the
@ConvexFinance team the ability to direct your voting power in your absence during a governance proposal vote. You can of course change this delegation at any time or vote manually if you don't agree with the team's view on a future proposal for any reason- so this is by no means a binding decision- but it's helpful for the team to be able to pass important governance proposals for the benefit of all $CVX holders when needed.
Again to re-iterate, delegating your "DAO votes" voting power to the
@ConvexFinance team has NO affect on who you delegate your "gauge weight" voting power to, and so if you want to continue to use
@StakeDAOHQ to earn your weekly yields while delegating your governance voting power to the
@ConvexFinance team, you can do this with no issues (as in the screenshot below).
Again, if you haven't already, I recommend delegating the "DAO votes delegate" to the
@ConvexFinance team in the interest of giving them the power to make governance decisions that prioritize $CVX holders, first and foremost.