Governance token concentration (Gini)
Curve Finance's assessment for RD-F-047 — scored red on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Convex Finance controls approximately 53%+ of circulating veCRV supply. In December 2025, Convex + Yearn addresses accounted for ~90% of votes against a governance proposal. Top-1 entity (Convex) controls >50% of effective veCRV — Gini coefficient estimated >0.90. De-facto single-entity majority over Ownership votes if Convex acts as a bloc.
Sources #
- URLConvex Finance: CRV governance controlswitchere.com/guides/cvx-coin — 'Convex owns more than 53% of all CRV tokens currently in circulation'retrieved 2026-04-28
- Convex Finance governance concentration December 2025coinmarketcap.com CMC AI — Convex + Yearn ~90% of opposing votes, December 2025retrieved 2026-04-28
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 curve-v2 factor RD-F-047 score red collected_at 2026-04-28 19:48:40