yveCRV User Stats
This dashboard discusses how yveCRV users interact with the Vault.
The graph below shows the number of users claimed per week. It's on decline since the introduction of yvBOOST. (Sorry for the repeated graph from Q1, I started with Q2 and I didn't see that Q1 asked if yvBOOST affected yveCRV, so I split the dashboard into two.)
The graph below shows the 3Crv Claimed per week had been on the decline as well since yvBOOST was introduced.
So are the yveCRV users claiming their rewards responsibly? The answer is yes, they absolutely are. Since the 3Crv token is a liquidity pool token that comprises of only stablecoins, we can assume that 3Crv is equivalent to 1 USD. So, based on this, only 1 USD was used as gas fee to claim up to 693 3Crv (or 693 USD), while the minimum 3Crv claimed per USD spent is 15. This means that the users are claiming at the rate of at least 15x the gas fee, which also means that at the maximum, only 6.67% of the rewards are lost to gas fees.
Up to the time of writing, only 6.34ETH was used to claim 1.16M 3Crv tokens. With the price of ETH at the time of writing being $2900/ETH, only $18k was used to claim $1.16M, which is about 1.5% of the reward value.
The graph below shows the frequency of 3Crv claims by yvBOOST. From the graph, we see that although a strict schedule, which is a 7-day interval, was strictly followed, but recently this 3Crv claims are not done per week. Besides that, the graph shows that the amount of 3Crv claimed per transaction is vastly greater than manual claims. So, this in theory dramatically reduces the gas fees used to compound the earnings.
Now, if we compare yvBOOST's 3Crv claimed per USD spent on gas fees to that of the manual claimers, we see that yvBOOST's gas fee management is far better than the latter. With a minimum of 158 3Crv compared to 9.42 3Crv of manual claimers, yvBOOST boasts a 16x more effective gas management than that of the manual claimers.
Up to the time of writing, only 1.06ETH was used to claim 1.74M 3Crv tokens. With the price of ETH at the time of writing being $2900/ETH, only $2.9k was used to claim $1.74M, which is about 0.16% of the reward value. Comparing this to the % of the manual claimers, we see that the yvBOOST vault helps users save gas fees on transactions as well, besides the auto-compounding feature.
yvBOOST is a vastly more superior Vault compared to yveCRV. With 0.16% of the reward lost to gas fees on average, the yvBOOST vault greatly reduces the amount of rewards lost when compared manual user's 1.5%. Besides that, yvBOOST's auto compounding feature also allows user to stake and forget, while getting the maximum yield out of their yveCRV tokens. All in all, manual claims are just not worth it when a better solution is readily available.