To win in the Curve wars, you need to get CLever

  1. A major event, the fundamental fight for liquidity (initially among stablecoins) is occuring
  2. The battle is being fought in the open, public forums and DEXes, rather than in closed-door meetings and with OTC deals
  3. There is a clear mechanism (CVX, voting bribing) by which everyday users can participate and benefit.
The anatomy of an opportunity. The alignment of these conditions is what DeFi is all about.
The basic usage flow of CLever

The Benefits of CLever Borrowing: Liquidation, Risk, and Cost

CLever’s future yield claiming mechanism is essentially borrowing against the user’s locked CVX, while using the yields to automatically pay back the loan. The details are important here, as CLever uses a significantly different (and in our opinion, better!) mechanism than most borrowing in crypto. The mechanism works by minting a synthetic version of CVX (called clevCVX) against the real thing, and then providing ways for users to swap their clevCVX for CVX, thus increasing the amount of CVX the user can earn with. Each clevCVX is fully backed by at least one real CVX token in the system.

More Awesome CLever Details

The Aladdin team has thoughtfully crafted CLever to be an unconditional benefit to the CVX community and the Convex protocol. The Aladdin team philosophy, as we have said over and over, is long-only: we identify the best protocols and build synergistic, not parasitic, tools for the community. CLever is perhaps the best example of that yet. Consider the following:

CLever provides a side benefit: yields on liquid CVX, without impermanent loss

Since the CLever mechanism relies on liquidity in the clevCVX/CVX Curve pool, it will incentivize that liquidity by sharing fee revenue denominated in clevCVX/CVX pool tokens. This is significant because it represents real CVX yield paid on liquid CVX. Additionally, depositors in the clevCVX/CVX pool do not experience impermanent loss as they would in a pool 2. The net result is that CLever provides a way for liquid CVX to earn real yields without locking. (Spoiler… Concentrator might just be planning to take advantage of this soon!)

Claiming future yields now gives maximum choice for users

CLever’s gives users the ability to claim more future yields up to their limit as soon as yields are harvested, or wait until later, or just wait while their yield is earned. Different users can use this flexibility to put CLever to work in different ways, depending on their needs users can:

  • Immediately claim the maximum future yield and re-deposit to create/maintain maximum leverage
  • wait and allow yields to accrue more then claim the maximum and re-deposit after multiple yield harvests to save on gas, or
  • treat withdrawn clevCVX as securitization of future yields; swap or sell now to enjoy the next year’s yields today

Move boldly

CLever is an opportunity for everyday CVX holders to gain the maximum benefit of the war being fought by the big guys, while simultaneously supporting these foundational protocols and betting on the future of DeFi. It is a set-and-forget protocol that allows CVX holders to rest easy while still earning the most yield. If you believe, as Aladdin’s Boule council does, that Curve and Convex are solid, long-term investments representing the future of DeFi, then you will find CLever represents an indispensable tool to take maximum advantage of the Curve wars. Check it out https://clever.aladdin.club, follow us on Twitter or head over to the Aladdin Discord to ask questions and learn more!

Details of CLever Beta Period

For the beta:

  1. CLever will charge only 3% on all yields harvested (to cover gas), rather than 20%
  2. CLever project will not be seeding initial liquidity in the official Curve pool, so be aware that the only official way to swap clevCVX to CVX will be the Furnace which is refilled only when bribes/rewards are harvested. Expect delays.
  3. All wallets who use CLever during the beta period will be added to a whitelist for an upcoming token sale, where a small tranche of tokens will be sold for CVX to seed Curve liquidity. Whitelisted addresses will be offered the best price.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store