Votium Protocol Introduction
Votium Protocol, an auction platform where CVX holders can delegate their voting power and receive compensation from buyers interested in amassing voting power. All this with no smart contract risks for the delegator, via a simple and easy-to-use interface. Votium aims to help all CVX holders, big or small, find more value in their voting power. Currently, CVX holders which have little voting power or don’t provide liquidity on Curve do not enjoy the value of their voting power. With Votium, users will be able to extract said value. Votium aims to benefit Curve and Convex, by using CRV as the deposit token and converting the winning bid to cvxCRV. Votium delegators continue to earn 100% of the fees on their locked CVX (Currently 5%+1% of Convex’s revenue). Delegating to Votium only requires a trivial amount of gas to be paid once for the initial delegation transaction, and for claiming your rewards. Votium has no withdrawal fees, and a low performance fee applied to the winning bid. Excluding gas, there is no cost to use the platform unless you are the winner of an auction. Votium uses snapshot to integrate with CVX voting. Snapshot allows addresses to vote while delegating, essentially disabling their delegation for the proposal on which they voted. To make sure we have the best forecast of voting power for potential buyers, Votium delegators who will vote while being delegated will sacrifice some of their rewards to the other delegators and will enter a cooldown period.