I agree, the ve model is only suitable for environments where there are a lot of plates in the previous round, mainly aimed at reducing the initial liquidity incentive selling pressure. It's clearly not suitable to play this way now.
For example, with Pendle's LP boost, I basically need to lock in coins that are close in value to the LP to get the full bonus. It's indeed more practical to just buy back directly.
Similarly, after the realization with Lista, changing from ve to buyback, its current development is also evident.
As a DeFi veteran, I strongly recommend that new projects adopt the token empowerment model of $hype and $aave—direct market buybacks, rather than the ve models like $crv and $pendle.
I hold various DeFi tokens myself, and I just need to check the on-chain records of $hype and $aave every month to see if the buybacks are ongoing.
With $pendle and $crv, you have to extend the lock-up, vote, and claim rewards. Sometimes I really don’t want to frequently operate a hardware wallet; I worry that even if I leave these coins to the next generation, they won’t know how to operate them.
If I occasionally want to change my holdings, I have to wait years for them to unlock. I don’t want to lock them up, so I bought a bunch of $cvxcrv, $sdcrv, and $ependle, $mpendle, and the result is that the price just dropped to 40%.
Any project that requires secondary projects (cvx, eqb) to assist in token holding management is a result of their own token model not being good enough.
@CurveFinance @pendle_fi
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