yveCRV Rewards
How much are users paying for yveCRV rewards?
Claims for yveCRV rewards rose steadily as one might expect with time. Peak claims hit in the week of May 24, 2021, to May 31, 2021, at 50 claims. On the average, there are about 18 claims every week.
Gas spent is computed by finding the sum of gas price x gas used for all transactions. Total gas spent to claim rewards is around 2.37ETH which seems quite reasonable on the surface. However, we cannot be so sure until we determine the total amount of rewards claimed.
The chart above shows the total amount of tokens claimed over the period. Although the denomination is not quite certain because of the complexities of yearn.finance, it is assumed that the amounts are in 3Crv (stables). Hence, the USD is adopted as the denomination.
Comparing total gas paid in 2.37ETH to 30million USD in volume, gas fees are negligible here. Why are gas fees this low? Well, the best explanation will be that users usually wait for rewards to pile up before they claim. The average amount claimed is ~12K USD which is quite efficient compared to the average gas of ~50 USD in recent times.
So yes, users of the yveCRV vault have made good decisions about claiming tokens with respect to gas fees.