Governance token concentration (Gini)
crvUSD (Curve Stablecoin)'s assessment for RD-F-047 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Convex Finance controls approximately 42% of circulating veCRV supply, giving it dominant governance influence over Curve DAO. vlCVX holders direct Convex's vote, creating a meta-governance layer. Top-3 holders likely control >50% of effective governance power. Gini coefficient estimated >0.85. This is a structural concentration risk, not a technical flaw.
Sources #
- URLConvex Finance: Voting and Gauge WeightsConvex voting and gauge weights documentationretrieved 2026-05-16
- The Defiant: Curve-Convex Governance DynamicsConvex Finance controls ~42% of veCRV; Curve governance effectively controlled by Convex+Yearn voting blocretrieved 2026-05-16
Methodology #
Compute the Gini coefficient of governance token holdings across the top-1000 holder addresses.
See the full factor methodology and distribution across all protocols →
rubric_version v1.7.0 protocol crvusd factor RD-F-047 score yellow collected_at 2026-05-16 19:09:40