{
  "generated": "2026-08-13 05:20 UTC",
  "generated_ts": 1786598416,
  "errors": [],
  "prices": {
    "CRV": 0.25962628,
    "crvUSD": 0.9997925102509209,
    "ETH": 1895.80539871
  },
  "treasury": {
    "total_usd": 254586.354734675,
    "crv": {
      "bal": 845144.1881042973,
      "usd": 219421.64162113893
    },
    "crvusd": {
      "bal": 34828.376901593314,
      "usd": 34821.15037040917
    },
    "eth": {
      "bal": 0.18122257873128375,
      "usd": 343.56274312691573
    }
  },
  "inflow": {
    "monthly_usd": 531815.6308077313,
    "annual_usd": 6381787.569692776,
    "weekly_usd": 122726.68403255338,
    "month_label": "2026-07",
    "out_total_usd": 1898372.0255191
  },
  "burn": {
    "monthly_usd": 479706.55726839695,
    "breakdown": {
      "swiss_stake": 367380.9024836864,
      "llamarisk_crv": 35501.115479589185,
      "grants_escrow": 0.0,
      "llamarisk_crvusd": 76824.53930512138
    }
  },
  "dao_controlled": {
    "free_usd": 254586.354734675,
    "redirect_usd": 3252106.3076503044,
    "yb_usd": 6234192.445912753,
    "grants_msig_usd": 2059792.3073063565,
    "return_usd": 482741.8940141584,
    "grants_msig": {
      "crv": 2056775.3880523564,
      "crvusd": 0.0,
      "usdc": 3016.919254
    },
    "escrows": {
      "swiss_stake": 1795765.8636361458,
      "grants": 973598.5499999999,
      "llamarisk_crv": 482741.8940141584,
      "llamarisk_crvusd": 0.0
    }
  },
  "fee_distributor": {
    "crvusd": 485227.3786248022
  },
  "flow_history": [
    {
      "month": "2025-07",
      "in": 137735,
      "out": 0,
      "in_src": [
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 137735,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [],
      "cum": 137735
    },
    {
      "month": "2025-08",
      "in": 114410,
      "out": 0,
      "in_src": [
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 114410,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [],
      "cum": 252145
    },
    {
      "month": "2025-09",
      "in": 91568,
      "out": 0,
      "in_src": [
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 91568,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [],
      "cum": 343713
    },
    {
      "month": "2025-10",
      "in": 148623,
      "out": 0,
      "in_src": [
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 148623,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [],
      "cum": 492336
    },
    {
      "month": "2025-11",
      "in": 112733,
      "out": 0,
      "in_src": [
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 112733,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [],
      "cum": 605069
    },
    {
      "month": "2025-12",
      "in": 52345,
      "out": 0,
      "in_src": [
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 52345,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [],
      "cum": 657414
    },
    {
      "month": "2026-01",
      "in": 65273,
      "out": 0,
      "in_src": [
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 65273,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [],
      "cum": 722687
    },
    {
      "month": "2026-02",
      "in": 107028,
      "out": 0,
      "in_src": [
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 107028,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [],
      "cum": 829715
    },
    {
      "month": "2026-03",
      "in": 42920,
      "out": 360000,
      "in_src": [
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 42920,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [
        {
          "label": "Vesting escrow \u00b7 LlamaRisk crvUSD stream",
          "addr": "0xd0760552eec8aca4c6b0312a8dffdf8af553337d",
          "v": 360000,
          "summary": "LlamaRisk risk-management retainer, paid as a crvUSD vesting stream. Vote 1441 (executed 30 Jun 2026 16:00 UTC, 536.8M veCRV for / 0 against) revoked the unvested remainder: 270,247 crvUSD were returned from this escrow to the crvUSD treasury 0x6508 in the same execution tx. The escrow now holds ~18.2k crvUSD (residual dust).",
          "sources": [
            [
              "LlamaRisk Services Proposal",
              "https://gov.curve.finance/t/llamarisk-services-proposal-april-2026-2027/11004"
            ],
            [
              "Return tx: 270,247 crvUSD -> treasury (Etherscan)",
              "https://etherscan.io/tx/0x25883780c97e5ee37415bd3613daa196459296ea8504cc081427dfe7a2b2e4d8"
            ]
          ]
        }
      ],
      "cum": 512635
    },
    {
      "month": "2026-04",
      "in": 54943,
      "out": 520000,
      "in_src": [
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 54943,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [
        {
          "label": "Grant recipient (proxy)",
          "addr": "0xe4f02accc88a3000f11afec71c04896127a3aeb5",
          "v": 520000,
          "summary": "520k crvUSD top-up to the Swiss Stake operating proxy \u2014 the crvUSD rider on vote #1381 (alongside the Swiss Stake CRV second tranche), paid in execution tx 0x4d6ffd.",
          "sources": [
            [
              "DAO vote #1381 (executed)",
              "https://www.curve.finance/dao/ethereum/proposals/1381-ownership"
            ],
            [
              "execution tx",
              "https://etherscan.io/tx/0x4d6ffdb65cc1b64799ca5c4c268068b81909c07001aef9c933f4fa9a59b56596"
            ]
          ]
        }
      ],
      "cum": 47578
    },
    {
      "month": "2026-05",
      "in": 50644,
      "out": 0,
      "in_src": [
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 50644,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [],
      "cum": 98222
    },
    {
      "month": "2026-06",
      "in": 331566,
      "out": 0,
      "in_src": [
        {
          "label": "Vesting escrow \u00b7 LlamaRisk crvUSD stream",
          "addr": "0xd0760552eec8aca4c6b0312a8dffdf8af553337d",
          "v": 270247,
          "summary": "LlamaRisk risk-management retainer, paid as a crvUSD vesting stream. Vote 1441 (executed 30 Jun 2026 16:00 UTC, 536.8M veCRV for / 0 against) revoked the unvested remainder: 270,247 crvUSD were returned from this escrow to the crvUSD treasury 0x6508 in the same execution tx. The escrow now holds ~18.2k crvUSD (residual dust).",
          "sources": [
            [
              "LlamaRisk Services Proposal",
              "https://gov.curve.finance/t/llamarisk-services-proposal-april-2026-2027/11004"
            ],
            [
              "Return tx: 270,247 crvUSD -> treasury (Etherscan)",
              "https://etherscan.io/tx/0x25883780c97e5ee37415bd3613daa196459296ea8504cc081427dfe7a2b2e4d8"
            ]
          ]
        },
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 61319,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [],
      "cum": 429788
    },
    {
      "month": "2026-07",
      "in": 531926,
      "out": 961691,
      "in_src": [
        {
          "label": "0xa3a7\u20260eec",
          "addr": "0xa3a7b6f88361f48403514059f1f16c8e78d60eec",
          "v": 477266
        },
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 54660,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        }
      ],
      "out_dst": [
        {
          "label": "0x70b3\u202621f7",
          "addr": "0x70b3d2c2a508a87f9c18f46fe9ca42307cd021f7",
          "v": 961691
        }
      ],
      "cum": 23
    },
    {
      "month": "2026-08",
      "in": 91880,
      "out": 57075,
      "in_src": [
        {
          "label": "0x3154\u20262c35",
          "addr": "0x3154cf16ccdb4c6d922629664174b904d80f2c35",
          "v": 77005
        },
        {
          "label": "FeeAllocator (10% fee share)",
          "addr": "0x22530d384cd9915e096ead2db7f82ee81f8eb468",
          "v": 12562,
          "summary": "Treasury's fixed 10% share of Curve protocol fees (admin fees auto-converted to crvUSD), routed via the FeeAllocator; the other ~90% goes to veCRV lockers.",
          "sources": [
            [
              "DAO vote: activate FeeAllocator, 10% \u2192 fund",
              "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
            ]
          ]
        },
        {
          "label": "0xa3a7\u20260eec",
          "addr": "0xa3a7b6f88361f48403514059f1f16c8e78d60eec",
          "v": 2313
        }
      ],
      "out_dst": [
        {
          "label": "0x70b3\u202621f7",
          "addr": "0x70b3d2c2a508a87f9c18f46fe9ca42307cd021f7",
          "v": 57075
        }
      ],
      "cum": 34828
    }
  ],
  "cf_history": {
    "genesis": 151515152,
    "genesis_date": "2020-08-13",
    "balance": 845144,
    "events": [
      {
        "date": "2020-08-13",
        "dir": "in",
        "crv": 151515152,
        "cp": "0xc4ad0ef33a0a4dda3461c479ccb6c36d1e4b7be4",
        "label": "Genesis allocation (2020)",
        "tx": "0x3f9aa0ff15fbd00cce60e36f32f25d6f85a43a19d983100d98007a84609f861a",
        "bal": 151515152,
        "summary": "Genesis allocation \u2014 the community reserve (~5% of CRV supply, 151.5M) seeded to the DAO Community Fund at launch, Aug 2020.",
        "sources": []
      },
      {
        "date": "2020-12-12",
        "dir": "out",
        "crv": 3600000,
        "cp": "0x50b5734c339b97374cf0a71b0428535eee14b2f0",
        "label": "Early grant \u2192 council proxy",
        "tx": "0x8db43544018e5aa9d7d10020517c5f6e8fe5ae26c6e48ce3d6cad694b8e81a30",
        "bal": 147915152,
        "summary": "Early DAO grant (2020), vested via escrow to the grants-council proxy 0xc420c9d.",
        "sources": []
      },
      {
        "date": "2021-05-09",
        "dir": "out",
        "crv": 24000000,
        "cp": "0xa445521569e93d8a87820e593bc9c51c0123da08",
        "label": "Early grant \u2192 council proxy",
        "tx": "0xa2c4078a48e443374cd4e5c8fcb10317adb3f4d66e7ad2aa9170e54f59301a06",
        "bal": 123915152,
        "summary": "Early DAO grant (2021), vested via escrow to the grants-council proxy 0xc420c9d.",
        "sources": []
      },
      {
        "date": "2023-12-21",
        "dir": "out",
        "crv": 55544783,
        "cp": "0x8042f41594617a2b139f5f39ef6dc33b56be2871",
        "label": "Vyper hack-victim recovery (vote #521)",
        "tx": "0x690f143b76b7051689c9569321ad3070361e4cb80ae1799fe0ebf9f19ddaf2ae",
        "bal": 68370369,
        "summary": "Vyper hack-victim recovery (vote #521): part of the 71.8M CRV the Community Fund paid out on 2023-12-21 to compensate LPs hit by the July-2023 Vyper-reentrancy exploit (pETH/alETH/msETH/CRV-ETH pools). Funded in the vote's execution tx 0x690f143b and claimed into VestSplitters that fan out to ~73 affected-LP wallets; the Ownership Agent topped up the same splitter with 92,696 CRV + WETH/ETH. This is the single largest Community-Fund outflow to date.",
        "sources": [
          [
            "DAO vote #521 \u2014 hack-victim recovery",
            "https://www.curve.finance/dao/ethereum/proposals/521-ownership"
          ],
          [
            "curvefi/vest-split (distribution)",
            "https://github.com/curvefi/vest-split/"
          ],
          [
            "execution tx 0x690f143b",
            "https://etherscan.io/tx/0x690f143b76b7051689c9569321ad3070361e4cb80ae1799fe0ebf9f19ddaf2ae"
          ]
        ]
      },
      {
        "date": "2023-12-21",
        "dir": "out",
        "crv": 2157133,
        "cp": "0x5673d10ad75e583b048f4a758eeab9b480e5b127",
        "label": "Vyper hack-victim recovery (vote #521)",
        "tx": "0x690f143b76b7051689c9569321ad3070361e4cb80ae1799fe0ebf9f19ddaf2ae",
        "bal": 66213236,
        "summary": "Vyper hack-victim recovery (vote #521): part of the 71.8M CRV the Community Fund paid out on 2023-12-21 to compensate LPs hit by the July-2023 Vyper-reentrancy exploit (pETH/alETH/msETH/CRV-ETH pools). Funded in the vote's execution tx 0x690f143b and claimed into VestSplitters that fan out to ~73 affected-LP wallets; the Ownership Agent topped up the same splitter with 92,696 CRV + WETH/ETH. This is the single largest Community-Fund outflow to date.",
        "sources": [
          [
            "DAO vote #521 \u2014 hack-victim recovery",
            "https://www.curve.finance/dao/ethereum/proposals/521-ownership"
          ],
          [
            "curvefi/vest-split (distribution)",
            "https://github.com/curvefi/vest-split/"
          ],
          [
            "execution tx 0x690f143b",
            "https://etherscan.io/tx/0x690f143b76b7051689c9569321ad3070361e4cb80ae1799fe0ebf9f19ddaf2ae"
          ]
        ]
      },
      {
        "date": "2023-12-21",
        "dir": "out",
        "crv": 12544212,
        "cp": "0xabad2d95392a7dc7e486d6a60db897167d12767b",
        "label": "Vyper hack-victim recovery (vote #521)",
        "tx": "0x690f143b76b7051689c9569321ad3070361e4cb80ae1799fe0ebf9f19ddaf2ae",
        "bal": 53669025,
        "summary": "Vyper hack-victim recovery (vote #521): part of the 71.8M CRV the Community Fund paid out on 2023-12-21 to compensate LPs hit by the July-2023 Vyper-reentrancy exploit (pETH/alETH/msETH/CRV-ETH pools). Funded in the vote's execution tx 0x690f143b and claimed into VestSplitters that fan out to ~73 affected-LP wallets; the Ownership Agent topped up the same splitter with 92,696 CRV + WETH/ETH. This is the single largest Community-Fund outflow to date.",
        "sources": [
          [
            "DAO vote #521 \u2014 hack-victim recovery",
            "https://www.curve.finance/dao/ethereum/proposals/521-ownership"
          ],
          [
            "curvefi/vest-split (distribution)",
            "https://github.com/curvefi/vest-split/"
          ],
          [
            "execution tx 0x690f143b",
            "https://etherscan.io/tx/0x690f143b76b7051689c9569321ad3070361e4cb80ae1799fe0ebf9f19ddaf2ae"
          ]
        ]
      },
      {
        "date": "2023-12-21",
        "dir": "out",
        "crv": 1522471,
        "cp": "0xfee3002418022fad0cf6ec4d5d60658da1606dc4",
        "label": "Vyper hack-victim recovery (vote #521)",
        "tx": "0x690f143b76b7051689c9569321ad3070361e4cb80ae1799fe0ebf9f19ddaf2ae",
        "bal": 52146554,
        "summary": "Vyper hack-victim recovery (vote #521): part of the 71.8M CRV the Community Fund paid out on 2023-12-21 to compensate LPs hit by the July-2023 Vyper-reentrancy exploit (pETH/alETH/msETH/CRV-ETH pools). Funded in the vote's execution tx 0x690f143b and claimed into VestSplitters that fan out to ~73 affected-LP wallets; the Ownership Agent topped up the same splitter with 92,696 CRV + WETH/ETH. This is the single largest Community-Fund outflow to date.",
        "sources": [
          [
            "DAO vote #521 \u2014 hack-victim recovery",
            "https://www.curve.finance/dao/ethereum/proposals/521-ownership"
          ],
          [
            "curvefi/vest-split (distribution)",
            "https://github.com/curvefi/vest-split/"
          ],
          [
            "execution tx 0x690f143b",
            "https://etherscan.io/tx/0x690f143b76b7051689c9569321ad3070361e4cb80ae1799fe0ebf9f19ddaf2ae"
          ]
        ]
      },
      {
        "date": "2024-02-09",
        "dir": "out",
        "crv": 4601410,
        "cp": "0x4e11198f9605cce62af2bd7597fae88df0bcb333",
        "label": "JPEG'd hack-loss recovery (vote #593)",
        "tx": "0xa0f11b17b7e8c767631710d13b92fbcb0a49482fe0195887bb1c4036440ae56c",
        "bal": 47545144,
        "summary": "JPEG'd hack-loss recovery (vote #593): 4.6M CRV vested over 1 year to the JPEG'd DAO multisig (0x51C2cEF9) \u2014 reimbursement for losses JPEG'd, a Curve-ecosystem protocol, incurred in the July-2023 Curve pool exploit, paid to its multisig treasury.",
        "sources": [
          [
            "DAO vote #593 \u2014 reimburse JPEG'd",
            "https://gov.curve.fi/t/reimbursing-costs-incurred-to-jpeg-d-dao-during-the-july-exploit/9877"
          ],
          [
            "JPEG'd DAO on gov forum",
            "https://gov.curve.finance/t/vecrv-whitelist-request-for-jpegd-dao/9626"
          ]
        ]
      },
      {
        "date": "2024-09-02",
        "dir": "out",
        "crv": 21000000,
        "cp": "0xe706f1cd12f64dd6064096e8f15c9a211a08f3c9",
        "label": "Swiss Stake 2024 operating grant",
        "tx": "0x7fd10e770edea291e957a5cd4c916d5c3887b66748f21e71b61d69e9d0106095",
        "bal": 26545144,
        "summary": "Swiss Stake 2024 operating grant \u2014 annual core-dev team funding (concluded Aug 2025).",
        "sources": [
          [
            "Swiss Stake 2026 proposal (references 2024)",
            "https://gov.curve.finance/t/funding-proposal-for-swiss-stake-ag-grant-proposal-2026/10953"
          ]
        ]
      },
      {
        "date": "2025-03-11",
        "dir": "out",
        "crv": 2000000,
        "cp": "0x53c657a47a8f5c2794054aa03cea71be78848de0",
        "label": "Grant vesting",
        "tx": "0x3b21694198f1139198dd2b39f6f2dc58ed3d0ae9863a9b379e512eaa63169413",
        "bal": 24545144,
        "summary": "Grant vested via escrow (2025-03). No public forum proposal matched this recipient by address.",
        "sources": []
      },
      {
        "date": "2025-12-29",
        "dir": "out",
        "crv": 17450000,
        "cp": "0xd347ce96266d99ac67debb15b3edd43a9e94b751",
        "label": "Swiss Stake 2026 operating grant",
        "tx": "0xf917e7af2049c078bd3a929e9692681d4b5c91428febbb1c9ee0006fd0837ac3",
        "bal": 7095144,
        "summary": "Swiss Stake 2026 operating grant \u2014 software R&D, infrastructure, security & audits, ecosystem support; 25-person team. Roadmap incl. LlamaLend V2, FXSwap, crvUSD.",
        "sources": [
          [
            "Funding proposal (gov forum)",
            "https://gov.curve.finance/t/funding-proposal-for-swiss-stake-ag-grant-proposal-2026/10953"
          ],
          [
            "crypto.news writeup",
            "https://crypto.news/curve-finance-founder-proposes-17m-crv-grant-to-fund-2026-development-roadmap"
          ]
        ]
      },
      {
        "date": "2026-03-23",
        "dir": "out",
        "crv": 2500000,
        "cp": "0x9f8a1a29f5709daf7a69b8157cb6fef656b10976",
        "label": "LlamaRisk grant (CRV)",
        "tx": "0xab4b67e5dc5cdc0e7cafc9a449f8523a8e70cd9338e09073733b5f60a4f97a2b",
        "bal": 4595144,
        "summary": "LlamaRisk CRV grant (2.5M, Mar 2026), paid into a Vyper vesting escrow. LlamaRisk concluded its Curve engagement on 30 Jun 2026 (exclusive Aave mandate); per its exit statement the post-30-Jun vesting is expected back in the DAO treasury. On-chain as of 21 Jul 2026: the escrow keeps vesting \u2014 640,628 CRV released to LlamaRisk's Safe (last claim 252,854.8 on 3 Jul, tx 0xf604c8bc; no further claim since), 1,859,372 CRV remain; no return tx to the treasury and no revoke vote for this CRV escrow exists yet (votes checked through #1456). The separate crvUSD stream's unvested part was revoked by Vote 1441.",
        "sources": [
          [
            "LlamaRisk: Concluding our Curve engagement",
            "https://gov.curve.finance/t/llamarisk-concluding-our-curve-engagement/11090"
          ]
        ]
      },
      {
        "date": "2026-04-19",
        "dir": "out",
        "crv": 3750000,
        "cp": "0xa94bec732593e4ee6a8d8687a9c35af7d9977e2c",
        "label": "Grants-program escrow (3.75M CRV, #1381, not deployed)",
        "tx": "0x4d6ffdb65cc1b64799ca5c4c268068b81909c07001aef9c933f4fa9a59b56596",
        "bal": 845144,
        "summary": "3.75M CRV vested to the Curve Grants multisig to fund the grants program \u2014 a rider on vote #1381 (alongside the Swiss Stake second tranche), paid in execution tx 0x4d6ffd. Recipient escrow still vesting.",
        "sources": [
          [
            "DAO vote #1381 (executed)",
            "https://www.curve.finance/dao/ethereum/proposals/1381-ownership"
          ],
          [
            "execution tx",
            "https://etherscan.io/tx/0x4d6ffdb65cc1b64799ca5c4c268068b81909c07001aef9c933f4fa9a59b56596"
          ]
        ]
      }
    ]
  },
  "gm_history": {
    "first_date": "2020-12-19",
    "in": 41259491,
    "out": 33337430,
    "balance": 7922062,
    "recipients": 42,
    "points": [
      {
        "date": "2020-12-19",
        "bal": 67300,
        "dir": "in",
        "crv": 67300,
        "cp": "0x50b5734c339b97374cf0a71b0428535eee14b2f0",
        "label": "Early grant \u2192 council proxy",
        "tx": "0xf1c288432f5927bc765bba1102223680cdc530435306660a357d3c0e437f82d5"
      },
      {
        "date": "2020-12-23",
        "bal": 43800,
        "dir": "out",
        "crv": 23500,
        "cp": "0x53e6c8a06f831c3281ccca5f0e349bbe0a65dcde",
        "label": "0x53e6\u2026dcde",
        "tx": "0x0936564c0ef56fcecd99760a398ef5565f96903e594346e815cd63d10e8bef7e"
      },
      {
        "date": "2021-01-18",
        "bal": 334626,
        "dir": "in",
        "crv": 290826,
        "cp": "0x50b5734c339b97374cf0a71b0428535eee14b2f0",
        "label": "Early grant \u2192 council proxy",
        "tx": "0x1b2c877bedd4de869640950de0bf219f59b83780aaaefef7abec1de4d7f373de"
      },
      {
        "date": "2021-01-19",
        "bal": 293376,
        "dir": "out",
        "crv": 41250,
        "cp": "0x53e6c8a06f831c3281ccca5f0e349bbe0a65dcde",
        "label": "0x53e6\u2026dcde",
        "tx": "0x76156012052b23efe6af9b2ff10ae5d6ca054e999244307de9492e74dc4c1b9e"
      },
      {
        "date": "2021-02-21",
        "bal": 106376,
        "dir": "out",
        "crv": 187000,
        "cp": "0x53e6c8a06f831c3281ccca5f0e349bbe0a65dcde",
        "label": "0x53e6\u2026dcde",
        "tx": "0x8e2c614e181f816818b04530a9dbecd22b67f7b22b993810fe1d93308ff2710e"
      },
      {
        "date": "2021-04-26",
        "bal": 94326,
        "dir": "out",
        "crv": 12050,
        "cp": "0x53e6c8a06f831c3281ccca5f0e349bbe0a65dcde",
        "label": "0x53e6\u2026dcde",
        "tx": "0x5490a430478368b38d064bdaecde14d27d4471df2267aa0c596461fdf0383b20"
      },
      {
        "date": "2021-06-17",
        "bal": 1581242,
        "dir": "in",
        "crv": 1486917,
        "cp": "0x50b5734c339b97374cf0a71b0428535eee14b2f0",
        "label": "Early grant \u2192 council proxy",
        "tx": "0xcc7521c50a9f475f8bcf56ce6c70f22e0545eecc1c83de7702c14dbb8b2ad987"
      },
      {
        "date": "2021-06-18",
        "bal": 1565742,
        "dir": "out",
        "crv": 15500,
        "cp": "0x53e6c8a06f831c3281ccca5f0e349bbe0a65dcde",
        "label": "0x53e6\u2026dcde",
        "tx": "0x02dc302575c03502f92731bf99f8503ad2f69670b9443e203ffa0506886e40b1"
      },
      {
        "date": "2021-08-11",
        "bal": 2106662,
        "dir": "in",
        "crv": 540920,
        "cp": "0x50b5734c339b97374cf0a71b0428535eee14b2f0",
        "label": "Early grant \u2192 council proxy",
        "tx": "0x1aa26ffeb491ad0ac78d3bdc0d619878ee5b61c66dc4a23b61b1a1b2c66a1b11"
      },
      {
        "date": "2021-08-15",
        "bal": 2048412,
        "dir": "out",
        "crv": 58250,
        "cp": "0x53e6c8a06f831c3281ccca5f0e349bbe0a65dcde",
        "label": "0x53e6\u2026dcde",
        "tx": "0xf3383ed6d172b06736593c449dbbc2968648cae78b06851a736486a37bfa01df"
      },
      {
        "date": "2021-10-15",
        "bal": 2691952,
        "dir": "in",
        "crv": 643540,
        "cp": "0x50b5734c339b97374cf0a71b0428535eee14b2f0",
        "label": "Early grant \u2192 council proxy",
        "tx": "0xeb766cfa923c4d9fcee7d13411e5922d12edbf5530089aabd6a9a2f1dc0cf408"
      },
      {
        "date": "2021-10-16",
        "bal": 2671952,
        "dir": "out",
        "crv": 20000,
        "cp": "0x53e6c8a06f831c3281ccca5f0e349bbe0a65dcde",
        "label": "0x53e6\u2026dcde",
        "tx": "0xfc227b908f7a319ed7cfd1f6d6fb43829e8bf499126ce1b06f5d4d68f16873cb"
      },
      {
        "date": "2021-11-14",
        "bal": 2646952,
        "dir": "out",
        "crv": 25000,
        "cp": "0x71df067d1d2df5291278b7c660fd37d9b6272b4c",
        "label": "0x71df\u20262b4c",
        "tx": "0x43cd8ced49f053e9ff5c3f6bd569fc594e917c7fe7ffdb4fd46a3fe75795e4e3"
      },
      {
        "date": "2021-12-17",
        "bal": 3217450,
        "dir": "in",
        "crv": 570498,
        "cp": "0x50b5734c339b97374cf0a71b0428535eee14b2f0",
        "label": "Early grant \u2192 council proxy",
        "tx": "0x6f45b5cae53a1e6006dbd0244f84e8ef4ab30a5add47e069517564edf1c48c7d"
      },
      {
        "date": "2021-12-18",
        "bal": 2909736,
        "dir": "out",
        "crv": 307714,
        "cp": "0x53e6c8a06f831c3281ccca5f0e349bbe0a65dcde",
        "label": "0x53e6\u2026dcde",
        "tx": "0x1ee3699c1cc3bc668a99a16b39a5df4a41072c8c1f5a0a9bf8e9b137f471ae52"
      },
      {
        "date": "2022-01-18",
        "bal": 2901736,
        "dir": "out",
        "crv": 8000,
        "cp": "0xa1992346630fa9539bc31438a8981c646c6698f1",
        "label": "0xa199\u202698f1",
        "tx": "0x2e0c932961192875923add3b4176b7b5e56609db75533d3a2fac7f58a090ac10"
      },
      {
        "date": "2022-01-18",
        "bal": 2893736,
        "dir": "out",
        "crv": 8000,
        "cp": "0x4c47b2520e9f7e3da15df09718d467f783b03858",
        "label": "0x4c47\u20263858",
        "tx": "0x2e0c932961192875923add3b4176b7b5e56609db75533d3a2fac7f58a090ac10"
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      {
        "date": "2022-01-18",
        "bal": 2874636,
        "dir": "out",
        "crv": 19100,
        "cp": "0xfbd42f5ff3e5d17bdead543e92b71d2eb747b7a3",
        "label": "0xfbd4\u2026b7a3",
        "tx": "0x2e0c932961192875923add3b4176b7b5e56609db75533d3a2fac7f58a090ac10"
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      {
        "date": "2022-02-25",
        "bal": 2851136,
        "dir": "out",
        "crv": 23500,
        "cp": "0x53e6c8a06f831c3281ccca5f0e349bbe0a65dcde",
        "label": "0x53e6\u2026dcde",
        "tx": "0xfde78f4585821be5005d5441f3ff14f372e1f6c0d2d69992d71c43933ee8b5b8"
      },
      {
        "date": "2022-03-30",
        "bal": 2805136,
        "dir": "out",
        "crv": 46000,
        "cp": "0x9bc7c6ad7e7cf3a6fcb58fb21e27752ac1e53f99",
        "label": "0x9bc7\u20263f99",
        "tx": "0x67d5368b3c4e9ea9eadc0a5cf7064a5a02fb27111e1111645f6a488ded7fb9d9"
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      {
        "date": "2022-04-05",
        "bal": 2793136,
        "dir": "out",
        "crv": 12000,
        "cp": "0xa1992346630fa9539bc31438a8981c646c6698f1",
        "label": "0xa199\u202698f1",
        "tx": "0x4d9caaf116fce63a798f632236c00dc047eda4ba1c09ebf4cdfb5aefff0e73ff"
      },
      {
        "date": "2022-04-05",
        "bal": 2787136,
        "dir": "out",
        "crv": 6000,
        "cp": "0x4c47b2520e9f7e3da15df09718d467f783b03858",
        "label": "0x4c47\u20263858",
        "tx": "0x4d9caaf116fce63a798f632236c00dc047eda4ba1c09ebf4cdfb5aefff0e73ff"
      },
      {
        "date": "2022-04-05",
        "bal": 2781136,
        "dir": "out",
        "crv": 6000,
        "cp": "0x1b177d4be61bf8f28154b121acf3bbedb6178ff0",
        "label": "0x1b17\u20268ff0",
        "tx": "0x4d9caaf116fce63a798f632236c00dc047eda4ba1c09ebf4cdfb5aefff0e73ff"
      },
      {
        "date": "2022-04-22",
        "bal": 2757636,
        "dir": "out",
        "crv": 23500,
        "cp": "0x53e6c8a06f831c3281ccca5f0e349bbe0a65dcde",
        "label": "0x53e6\u2026dcde",
        "tx": "0x0dee75dc34e8587c5fe011ad98b2ddc15302a34565693e016ecf0fac135c98ca"
      },
      {
        "date": "2022-06-23",
        "bal": 2717636,
        "dir": "out",
        "crv": 40000,
        "cp": "0xa2482aa1376beccba98b17578b17ece82e6d9e86",
        "label": "Grant recipient (multisig)",
        "tx": "0x4a10dc7bd2c60bd4c99db63ca0c9c895d4defaee6ab65c9af960c765ca6c8352"
      },
      {
        "date": "2022-06-24",
        "bal": 2692136,
        "dir": "out",
        "crv": 25500,
        "cp": "0x53e6c8a06f831c3281ccca5f0e349bbe0a65dcde",
        "label": "0x53e6\u2026dcde",
        "tx": "0x3d5715c0a1ad7e2da57af77439a9e177dd2959ed1d7ed797b8d91bbcb939b05b"
      },
      {
        "date": "2022-07-08",
        "bal": 2689136,
        "dir": "out",
        "crv": 3000,
        "cp": "0x6401eba0c86b7c95d5064ca67598357de3b901a3",
        "label": "0x6401\u202601a3",
        "tx": "0x8750971c76767a6ecc83f6306e6e716841cb57cc749f53e7447206b1bd683416"
      },
      {
        "date": "2022-08-10",
        "bal": 2589136,
        "dir": "out",
        "crv": 100000,
        "cp": "0x2ba80b37e0bef5c92a0c3cb780f8583372d773ac",
        "label": "Grant recipient (multisig)",
        "tx": "0x949ecc5d7ed136c0129bc0a1b613dcb85a3f558bd9715f726ea1f43bac45298d"
      },
      {
        "date": "2022-08-12",
        "bal": 2389136,
        "dir": "out",
        "crv": 200000,
        "cp": "0x0000000000e189dd664b9ab08a33c4839953852c",
        "label": "0x0000\u2026852c",
        "tx": "0x3e7c382507e037cea0c0cc27440a490c0bf13217f8bb66b6dd2b8c3416e62765"
      },
      {
        "date": "2022-11-13",
        "bal": 2189136,
        "dir": "out",
        "crv": 200000,
        "cp": "0x2ba80b37e0bef5c92a0c3cb780f8583372d773ac",
        "label": "Grant recipient (multisig)",
        "tx": "0x9f1f1b90c003a67c5d44911dcf5c713830a0b87c7301e03d1b09bef0342e49cd"
      },
      {
        "date": "2022-12-02",
        "bal": 26189136,
        "dir": "in",
        "crv": 24000000,
        "cp": "0xa445521569e93d8a87820e593bc9c51c0123da08",
        "label": "Early grant \u2192 council proxy",
        "tx": "0xd8162f097998153903c9a28c960de269deabae8b6497a7c9a3378b6f9e71c8ad"
      },
      {
        "date": "2023-01-06",
        "bal": 21689136,
        "dir": "out",
        "crv": 4500000,
        "cp": "0x8dae6cb04688c62d939ed9b68d32bc62e49970b1",
        "label": "Aave market (CRV parking, deposit/withdraw)",
        "tx": "0xfe10d3c58d580816055961c75b173b6244356e3bacad6c60d89c5594f6781170"
      },
      {
        "date": "2023-02-22",
        "bal": 21589136,
        "dir": "out",
        "crv": 100000,
        "cp": "0x2ba80b37e0bef5c92a0c3cb780f8583372d773ac",
        "label": "Grant recipient (multisig)",
        "tx": "0xd4cf33d29d76f17543ae3e6046143d94a0ee2d4f3ea8539b34b23c8ba382437b"
      },
      {
        "date": "2023-04-08",
        "bal": 21556136,
        "dir": "out",
        "crv": 33000,
        "cp": "0xc86dfbc2da425214a7e589eb10488d8814d4dedf",
        "label": "0xc86d\u2026dedf",
        "tx": "0xa2fa058bc35445c8cd6ddd5fdf969ce5e222930ce54c137c8ffb68ae28a59a3d"
      },
      {
        "date": "2023-05-25",
        "bal": 21409136,
        "dir": "out",
        "crv": 147000,
        "cp": "0x2ba80b37e0bef5c92a0c3cb780f8583372d773ac",
        "label": "Grant recipient (multisig)",
        "tx": "0x8c0841df3a9809612b9bcde6dce6f60df7bccbdd44e83d88c404a719524e4a60"
      },
      {
        "date": "2023-06-01",
        "bal": 21338136,
        "dir": "out",
        "crv": 71000,
        "cp": "0x2ba80b37e0bef5c92a0c3cb780f8583372d773ac",
        "label": "Grant recipient (multisig)",
        "tx": "0x0e0126e1d8398dd227284f0c3563d781cc4557751f8af5e134986cbf50a888f1"
      },
      {
        "date": "2023-07-03",
        "bal": 21238136,
        "dir": "out",
        "crv": 100000,
        "cp": "0x960b77daf61ac184d396db23a77ec391c9454605",
        "label": "0x960b\u20264605",
        "tx": "0xddfc04666662bc94ab00520020dbce5502f8168076b0752cdbeea861abcde9e4"
      },
      {
        "date": "2023-07-13",
        "bal": 21158136,
        "dir": "out",
        "crv": 80000,
        "cp": "0x7a16ff8270133f063aab6c9977183d9e72835428",
        "label": "0x7a16\u20265428",
        "tx": "0xca814c4e9bd947df39a90fe17d7c5a7d41734bfef912cb209a26c589bc601ade"
      },
      {
        "date": "2023-08-15",
        "bal": 21141436,
        "dir": "out",
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        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0x3d234193a16ab728af36b5cf07559bf468b538534d56ef0bea54efa616915d53"
      },
      {
        "date": "2026-04-18",
        "bal": 11562062,
        "dir": "out",
        "crv": 140000,
        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0xed5daa761f187c26dbaf9b7d9330e358df54c97c6d7ff964da714369a1f9004a"
      },
      {
        "date": "2026-04-18",
        "bal": 11422062,
        "dir": "out",
        "crv": 140000,
        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0x556ec76797d5cb717a6b5b57107fe3dee641da0b7afdeaa68cf8fdd280872234"
      },
      {
        "date": "2026-04-19",
        "bal": 11322062,
        "dir": "out",
        "crv": 100000,
        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0x29e4aa2cfaa0d4b848993db57b00aada03567c335363c3564ba0e0da7b736b08"
      },
      {
        "date": "2026-04-19",
        "bal": 11222062,
        "dir": "out",
        "crv": 100000,
        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0xeb1348d979f3d9d0dd304c89ec335511c2e267ad2e9f4d004a979144fe3fd6f5"
      },
      {
        "date": "2026-04-19",
        "bal": 11122062,
        "dir": "out",
        "crv": 100000,
        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0x8d2fe948c714312f76a8fe5c10cc8d312d63042b115738253fc67a65f874b643"
      },
      {
        "date": "2026-04-19",
        "bal": 11022062,
        "dir": "out",
        "crv": 100000,
        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0x4b66056dd721a749d049f08cbf3bfa157b1b56c6557b18cdfd32a3fa963c8692"
      },
      {
        "date": "2026-04-19",
        "bal": 10922062,
        "dir": "out",
        "crv": 100000,
        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0xf09da3907594beeab2e4201fd8955d088e262f56173436c4b3db4c66a75cd3f4"
      },
      {
        "date": "2026-04-19",
        "bal": 10822062,
        "dir": "out",
        "crv": 100000,
        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0x1f68be352989da9881b5b42526e116a36278fc37d8dedfcce5786405b403dc48"
      },
      {
        "date": "2026-04-19",
        "bal": 10722062,
        "dir": "out",
        "crv": 100000,
        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0xec86eb1947248644cb20117f2652baaf43ae18fb4261aad174a8ae5b12556e21"
      },
      {
        "date": "2026-04-20",
        "bal": 10622062,
        "dir": "out",
        "crv": 100000,
        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0x540f25d69cc4c9cde02793a4e7962346dd78757b50843e257aee7ec1ad0198ac"
      },
      {
        "date": "2026-04-20",
        "bal": 10522062,
        "dir": "out",
        "crv": 100000,
        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0xafde3b2d061c7d8ea8702c76774ef95a7998dbc67e79b8f74c7f298caf888258"
      },
      {
        "date": "2026-04-20",
        "bal": 10422062,
        "dir": "out",
        "crv": 100000,
        "cp": "0x9008d19f58aabd9ed0d60971565aa8510560ab41",
        "label": "CoWSwap settlement (CRV \u2192 stables)",
        "tx": "0x7171de9f8dd0dc8e9b2229557999d34e9a5205f7a338bf3ca544edd307d63557"
      },
      {
        "date": "2026-05-19",
        "bal": 7922062,
        "dir": "out",
        "crv": 2500000,
        "cp": "0xe4f02accc88a3000f11afec71c04896127a3aeb5",
        "label": "Grant recipient (proxy)",
        "tx": "0x98ee5363c146cfd655f48286fd138eef538f9180ec5ac221d04bee809b761c7d"
      }
    ]
  },
  "revenue": {
    "d1": 1838.2581725735413,
    "d7": 41583.63117747618,
    "d30": 428595.79734440794
  },
  "vesting_lr": {
    "crv": 1859372.2253932015,
    "claimed": 640627.7746067985,
    "grant": 2500000.0
  },
  "spend_ss": {
    "grant": 17450000.0,
    "remaining": 6916733.789954337,
    "claimed": 10533266.210045662,
    "remaining_usd": 1795765.8636361458,
    "grant_usd_now": 4530478.586
  },
  "mom_inflow_pct": 60.42839133083609,
  "annotations_ts": "2026-07-27",
  "spend_summary": {
    "en": "The Swiss Stake grant (17.45M CRV, about CHF 5.3M, vested over 12 months) funds a 25+ member core team across the four areas stated in the proposal: software research & development, infrastructure, security & audits, and ecosystem support. Unused funds roll over to the next year; anything that cannot be used per the project description returns to the Curve DAO.",
    "ru": "\u0413\u0440\u0430\u043d\u0442 Swiss Stake (17.45M CRV, \u043e\u043a\u043e\u043b\u043e CHF 5.3 \u043c\u043b\u043d, \u0432\u0435\u0441\u0442\u0438\u043d\u0433 12 \u043c\u0435\u0441) \u0444\u0438\u043d\u0430\u043d\u0441\u0438\u0440\u0443\u0435\u0442 \u043a\u043e\u043c\u0430\u043d\u0434\u0443 25+ \u043a\u043e\u043d\u0442\u0440\u0438\u0431\u044c\u044e\u0442\u043e\u0440\u043e\u0432 \u043f\u043e \u0447\u0435\u0442\u044b\u0440\u0451\u043c \u043d\u0430\u043f\u0440\u0430\u0432\u043b\u0435\u043d\u0438\u044f\u043c \u0438\u0437 \u043f\u0440\u043e\u043f\u043e\u0437\u0430\u043b\u0430: \u0438\u0441\u0441\u043b\u0435\u0434\u043e\u0432\u0430\u043d\u0438\u044f \u0438 \u0440\u0430\u0437\u0440\u0430\u0431\u043e\u0442\u043a\u0430 \u041f\u041e, \u0438\u043d\u0444\u0440\u0430\u0441\u0442\u0440\u0443\u043a\u0442\u0443\u0440\u0430, \u0431\u0435\u0437\u043e\u043f\u0430\u0441\u043d\u043e\u0441\u0442\u044c \u0438 \u0430\u0443\u0434\u0438\u0442\u044b, \u043f\u043e\u0434\u0434\u0435\u0440\u0436\u043a\u0430 \u044d\u043a\u043e\u0441\u0438\u0441\u0442\u0435\u043c\u044b. \u041d\u0435\u0438\u0441\u043f\u043e\u043b\u044c\u0437\u043e\u0432\u0430\u043d\u043d\u043e\u0435 \u043f\u0435\u0440\u0435\u043d\u043e\u0441\u0438\u0442\u0441\u044f \u043d\u0430 \u0441\u043b\u0435\u0434\u0443\u044e\u0449\u0438\u0439 \u0433\u043e\u0434; \u0447\u0442\u043e \u043d\u0435\u043b\u044c\u0437\u044f \u043f\u043e\u0442\u0440\u0430\u0442\u0438\u0442\u044c \u043f\u043e \u043d\u0430\u0437\u043d\u0430\u0447\u0435\u043d\u0438\u044e \u2014 \u0432\u043e\u0437\u0432\u0440\u0430\u0449\u0430\u0435\u0442\u0441\u044f \u0432 Curve DAO."
  },
  "mid_term_review": {
    "en": "Mid-term review (Q1 2026): Swiss Stake reports a lean cost base and efficiency steps - five functional Team Leads now in place; Business Development cut from 3 to 2 FTEs. Security audit spend projected down from CHF 1.4M to CHF 0.9-1.0M for 2026, with a proposal to fund audits from the Curve DAO directly. The Dec 2025 grant runs in two phases of 8,725,000 CRV each (Phase 1 H1, Phase 2 H2); the CRV price decline cut the effective runway from about 6 to about 4 months. Phase 2 ask: 8,725,000 CRV + 520,000 crvUSD by veCRV vote, plus 2,500,000 CRV from the Grants Multisig and a 3,750,000 CRV replenishment vest from the DAO to that multisig. Sustainability roadmap: a higher DAO protocol-fee share, a Swiss Association legal restructuring, and four revenue initiatives under assessment.",
    "ru": "\u041f\u0440\u043e\u043c\u0435\u0436\u0443\u0442\u043e\u0447\u043d\u044b\u0439 \u043e\u0431\u0437\u043e\u0440 (Q1 2026): Swiss Stake \u0437\u0430\u044f\u0432\u043b\u044f\u0435\u0442 \u043e \u043a\u043e\u043c\u043f\u0430\u043a\u0442\u043d\u043e\u0439 \u0441\u0442\u0440\u0443\u043a\u0442\u0443\u0440\u0435 \u0440\u0430\u0441\u0445\u043e\u0434\u043e\u0432 \u0438 \u0448\u0430\u0433\u0430\u0445 \u043f\u043e \u044d\u0444\u0444\u0435\u043a\u0442\u0438\u0432\u043d\u043e\u0441\u0442\u0438 - \u043d\u0430\u0437\u043d\u0430\u0447\u0435\u043d\u044b \u043f\u044f\u0442\u044c \u0444\u0443\u043d\u043a\u0446\u0438\u043e\u043d\u0430\u043b\u044c\u043d\u044b\u0445 \u0442\u0438\u043c\u043b\u0438\u0434\u043e\u0432; Business Development \u0441\u043e\u043a\u0440\u0430\u0449\u0451\u043d \u0441 3 \u0434\u043e 2 FTE. \u0420\u0430\u0441\u0445\u043e\u0434\u044b \u043d\u0430 \u0430\u0443\u0434\u0438\u0442\u044b \u0431\u0435\u0437\u043e\u043f\u0430\u0441\u043d\u043e\u0441\u0442\u0438 \u043f\u043b\u0430\u043d\u0438\u0440\u0443\u0435\u0442\u0441\u044f \u0441\u043d\u0438\u0437\u0438\u0442\u044c \u0441 CHF 1.4 \u043c\u043b\u043d \u0434\u043e CHF 0.9-1.0 \u043c\u043b\u043d \u0437\u0430 2026 \u0433\u043e\u0434, \u0441 \u043f\u0440\u0435\u0434\u043b\u043e\u0436\u0435\u043d\u0438\u0435\u043c \u0444\u0438\u043d\u0430\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u0442\u044c \u0430\u0443\u0434\u0438\u0442\u044b \u043d\u0430\u043f\u0440\u044f\u043c\u0443\u044e \u0438\u0437 Curve DAO. \u0413\u0440\u0430\u043d\u0442 \u043e\u0442 \u0434\u0435\u043a\u0430\u0431\u0440\u044f 2025 \u0440\u0430\u0437\u0431\u0438\u0442 \u043d\u0430 \u0434\u0432\u0435 \u0444\u0430\u0437\u044b \u043f\u043e 8,725,000 CRV (\u0424\u0430\u0437\u0430 1 - H1, \u0424\u0430\u0437\u0430 2 - H2); \u043f\u0430\u0434\u0435\u043d\u0438\u0435 \u0446\u0435\u043d\u044b CRV \u0441\u043e\u043a\u0440\u0430\u0442\u0438\u043b\u043e \u044d\u0444\u0444\u0435\u043a\u0442\u0438\u0432\u043d\u044b\u0439 runway \u0441 \u043f\u0440\u0438\u043c\u0435\u0440\u043d\u043e 6 \u0434\u043e \u043f\u0440\u0438\u043c\u0435\u0440\u043d\u043e 4 \u043c\u0435\u0441\u044f\u0446\u0435\u0432. \u0417\u0430\u043f\u0440\u043e\u0441 \u0424\u0430\u0437\u044b 2: 8,725,000 CRV + 520,000 crvUSD \u0433\u043e\u043b\u043e\u0441\u043e\u0432\u0430\u043d\u0438\u0435\u043c veCRV, \u043f\u043b\u044e\u0441 2,500,000 CRV \u0438\u0437 Grants Multisig \u0438 \u0432\u0435\u0441\u0442 3,750,000 CRV \u043e\u0442 DAO \u043e\u0431\u0440\u0430\u0442\u043d\u043e \u0432 \u044d\u0442\u043e\u0442 \u043c\u0443\u043b\u044c\u0442\u0438\u0441\u0438\u0433. \u0414\u043e\u0440\u043e\u0436\u043d\u0430\u044f \u043a\u0430\u0440\u0442\u0430 \u0443\u0441\u0442\u043e\u0439\u0447\u0438\u0432\u043e\u0441\u0442\u0438: \u043f\u043e\u0432\u044b\u0448\u0435\u043d\u0438\u0435 \u0434\u043e\u043b\u0438 \u043f\u0440\u043e\u0442\u043e\u043a\u043e\u043b\u044c\u043d\u043e\u0439 \u043a\u043e\u043c\u0438\u0441\u0441\u0438\u0438 DAO, \u044e\u0440\u0438\u0434\u0438\u0447\u0435\u0441\u043a\u0430\u044f \u0440\u0435\u0441\u0442\u0440\u0443\u043a\u0442\u0443\u0440\u0438\u0437\u0430\u0446\u0438\u044f \u0432 Swiss Association \u0438 \u0447\u0435\u0442\u044b\u0440\u0435 \u0438\u043d\u0438\u0446\u0438\u0430\u0442\u0438\u0432\u044b \u043f\u043e \u0432\u044b\u0440\u0443\u0447\u043a\u0435."
  },
  "votes": [],
  "timeline": [
    {
      "date": "2020-08-13",
      "cat": "genesis",
      "title": "Treasury genesis",
      "summary": "Community Fund seeded at Curve launch with 151,515,152 CRV (~5% of supply) as the DAO's reserve to fund grants and ecosystem work.",
      "status": "done",
      "sources": [
        [
          "genesis funding tx (151.5M CRV)",
          "https://etherscan.io/tx/0x3f9aa0ff15fbd00cce60e36f32f25d6f85a43a19d983100d98007a84609f861a"
        ]
      ]
    },
    {
      "date": "2020-12-19",
      "cat": "grant",
      "title": "Grant Council DAO multisig \u2014 CIP#42 (vote #30)",
      "summary": "The Grant Council DAO multisig (0xc420c9d), established by CIP#42 / DAO ownership vote #30 (Dec 2020, follow-up to signaling SCIP-3): the DAO began VESTING a grants budget (~$150k/month for a year, unused rolling to the next year) to a multisig controlled by all 6 Curve team members + 4 community signers (Julien T, Quentin Milne, Amadeo Brands, Adam S; Andre Cronje reviewing applications). The council awards grants at its DISCRETION by category \u2014 Ecosystem / Community / Security / Governance (in 2022: Community grants, Risk Team = LlamaRisk, Research team, llama.airforce; community grants streamed via LlamaPay) \u2014 NOT per-grant DAO votes. So the governance basis is one budget vote, then off-chain council allocation with public transparency reports. On-chain trace: the Community Fund sent CRV to grant-council proxies (0xa445\u2026, 0x50b5\u2026), which forwarded ~27.6M CRV here (the direct continuation of the Community Fund grant chain). Gross flow since Dec 2020 is ~41.3M CRV in / ~33.3M out across 42 counterparties, but that gross includes ~12M CRV round-tripped through Silo/Aave treasury parking (deposit then withdraw); net of parking, ~19M CRV was paid to grant-recipient multisigs and Vyper vesting escrows and ~1.9M CRV was sold via CoWSwap for stables. ~7.9M CRV (\u2248$1.56M, plus small crvUSD + USDC) remains. wavey's crv.lol balance sheet counts this wallet as the 'Grants Multisig' \u2014 shown here as a DAO-controlled liquid line with a balance-over-time chart whose points are labeled by real counterparty.",
      "status": "active",
      "sources": [
        [
          "CIP#42 \u2014 vest funds to the Grant Council (gov forum)",
          "https://gov.curve.finance/t/cip-42-begin-vesting-funds-to-the-grant-council-dao/1183"
        ],
        [
          "Curve Grants 2022 transparency (gov forum)",
          "https://gov.curve.finance/t/curve-grants-2022/8853"
        ],
        [
          "Grant Council multisig 0xc420c9d (on-chain)",
          "https://etherscan.io/address/0xc420c9d507d0e038bd76383aaadcad576ed0073c"
        ]
      ]
    },
    {
      "date": "2021-05-09",
      "cat": "grant",
      "title": "Early DAO grants",
      "summary": "27.6M CRV (2020-12 + 2021-05) vested via escrows to the grants-council proxy \u2014 the DAO's first operating outlays.",
      "status": "done",
      "sources": [
        [
          "funding tx (24M CRV, 2021-05)",
          "https://etherscan.io/tx/0xa2c4078a48e443374cd4e5c8fcb10317adb3f4d66e7ad2aa9170e54f59301a06"
        ],
        [
          "funding tx (3.6M CRV, 2020-12)",
          "https://etherscan.io/tx/0x8db43544018e5aa9d7d10020517c5f6e8fe5ae26c6e48ce3d6cad694b8e81a30"
        ]
      ]
    },
    {
      "date": "2022-06-01",
      "cat": "grant",
      "title": "Curve Grants program & LlamaRisk origin",
      "summary": "Curve's 2022 grants ran through the Curve Grants Multisig \u2014 Community grants (streamed via LlamaPay from Aug 2022), a Research team (curveresearch), and analytics (Llama.airforce). The Risk Team \u2014 LlamaRisk, formerly CryptoRisk Assessments \u2014 began as a 2-person team and in June 2022 became a Curve-funded bounty program paying analysts from the Curve community; it became Curve's first risk client and its longest continuous engagement. Its founder later sat on the Curve Grant Council and Michael Egorov was the team's first advisor; early funding came from the Grants program before later direct DAO grants (#990, #1363).",
      "status": "done",
      "sources": [
        [
          "Curve Grants 2022 (gov forum)",
          "https://gov.curve.finance/t/curve-grants-2022/8853"
        ],
        [
          "LlamaRisk: Concluding our Curve engagement (forum)",
          "https://gov.curve.finance/t/llamarisk-concluding-our-curve-engagement/11090"
        ]
      ]
    },
    {
      "date": "2023-12-21",
      "cat": "governance",
      "title": "Hack-victim recovery (Vyper exploit)",
      "summary": "DAO compensation for LPs hit by the July-2023 Vyper-reentrancy exploit (pETH/alETH/msETH/CRV-ETH pools). Executed 2023-12-21 in tx 0x690f143b: 71.8M CRV paid OUT OF THE COMMUNITY FUND across 4 vesting escrows, plus 92,696 CRV + WETH/ETH from the Ownership Agent, all claimed into VestSplitters that fan out to ~73 affected-LP wallets (vote #521; see curvefi/vest-split). This 71.8M is the single largest Community-Fund outflow to date.",
      "status": "done",
      "sources": [
        [
          "DAO vote #521",
          "https://www.curve.finance/dao/ethereum/proposals/521-ownership"
        ],
        [
          "execution tx 0x690f143b",
          "https://etherscan.io/tx/0x690f143b76b7051689c9569321ad3070361e4cb80ae1799fe0ebf9f19ddaf2ae"
        ],
        [
          "curvefi/vest-split",
          "https://github.com/curvefi/vest-split/"
        ]
      ]
    },
    {
      "date": "2024-01-07",
      "cat": "governance",
      "title": "L2 ecosystem incentive grants (OP / ARB / Sonic)",
      "summary": "Over 2024-2026 the DAO received earmarked ecosystem grants from three L2 foundations into DAO-controlled vaults and distributed them to LPs/LlamaLend as incentives (earmarked, kept off the headline treasury KPIs), and now essentially exhausted: Arbitrum ~3.5M ARB distributed in tranches (#563/#649/#716, all executed), vault empty since Aug 2024; Optimism ~660k OP across 3 claims (#522/#761/#1305), distributed (#688/#1025/#1053) with the final 100k moved to a Swiss Stake multisig (#1433, now ~29 OP on-chain); Sonic season-1 rewards claimed and routed to crvUSD/USDC (#1182). These L2 assets sit OUTSIDE the mainnet CRV/crvUSD/ETH balances the dashboard tracks \u2014 see the L2 grants block. Verified via a sweep of all DAO votes; no DAO-vault grants found on other chains.",
      "status": "done",
      "sources": [
        [
          "DAO vote #522 (500k OP)",
          "https://www.curve.finance/dao/ethereum/proposals/522-ownership"
        ],
        [
          "DAO vote #563 (ARB distribution, executed)",
          "https://www.curve.finance/dao/ethereum/proposals/563-ownership"
        ],
        [
          "DAO vote #1182 (Sonic season-1)",
          "https://www.curve.finance/dao/ethereum/proposals/1182-ownership"
        ]
      ]
    },
    {
      "date": "2024-01-29",
      "cat": "grant",
      "title": "JPEG'd DAO hack-loss recovery",
      "summary": "4,601,410 CRV vested over 1 year to JPEG'd DAO's multisig \u2014 reimbursement for losses JPEG'd (a Curve-ecosystem protocol) incurred in the July-2023 Curve pool exploit (vote #593).",
      "status": "done",
      "sources": [
        [
          "DAO vote #593",
          "https://www.curve.finance/dao/ethereum/proposals/593-ownership"
        ],
        [
          "JPEG'd veCRV whitelist (forum)",
          "https://gov.curve.finance/t/vecrv-whitelist-request-for-jpegd-dao/9626"
        ]
      ]
    },
    {
      "date": "2024-09-02",
      "cat": "grant",
      "title": "Swiss Stake 2024 operating grant",
      "summary": "21M CRV to Swiss Stake AG \u2014 the company building Curve \u2014 for a year of core development. Concluded Aug 2025.",
      "status": "done",
      "sources": [
        [
          "funding tx (21M CRV, 2024-09-02)",
          "https://etherscan.io/tx/0x7fd10e770edea291e957a5cd4c916d5c3887b66748f21e71b61d69e9d0106095"
        ],
        [
          "Swiss Stake 2024 funding proposal",
          "https://gov.curve.finance/t/funding-proposal-for-swiss-stake-ag-the-company-building-curve/10204"
        ]
      ]
    },
    {
      "date": "2024-09-30",
      "cat": "fees",
      "title": "FeeSplitter introduced",
      "summary": "Fee receiver set to the FeeSplitter, laying the foundation for routing part of crvUSD controller (borrow-interest) fees to future products \u2014 later feeds scrvUSD savers and veCRV (vote #856, corrected #867).",
      "status": "done",
      "sources": [
        [
          "DAO vote #856",
          "https://www.curve.finance/dao/ethereum/proposals/856-ownership"
        ]
      ]
    },
    {
      "date": "2025-03-11",
      "cat": "risk",
      "title": "LlamaRisk 2025-26 grant (2M CRV)",
      "summary": "2M CRV vested to LlamaRisk for risk & growth services Apr 2025-Apr 2026 (vote #990) \u2014 the year BEFORE the 2026-27 renewal. Identifies the previously-unmatched 2025-03 Community Fund outflow.",
      "status": "done",
      "sources": [
        [
          "DAO vote #990",
          "https://www.curve.finance/dao/ethereum/proposals/990-ownership"
        ]
      ]
    },
    {
      "date": "2025-06-16",
      "cat": "fees",
      "title": "FeeAllocator activated \u2014 10% of revenue to treasury",
      "summary": "DAO redirected a fixed 10% of protocol fee revenue (admin fees auto-converted to crvUSD) to the crvUSD Treasury via the FeeAllocator; the other ~90% goes to veCRV lockers. Enacted by ownership vote #1123 (executed 27 Jun 2025). First treasury inflow lands Jul 2025.",
      "status": "done",
      "sources": [
        [
          "DAO vote #1123 (executed)",
          "https://www.curve.finance/dao/ethereum/proposals/1123-ownership"
        ],
        [
          "Activate FeeAllocator (gov forum)",
          "https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676"
        ]
      ]
    },
    {
      "date": "2025-09-15",
      "cat": "grant",
      "title": "YieldBasis allocates 80M YB to Curve DAO",
      "summary": "Per YieldBasis tokenomics (total YB cap 1B), Curve DAO is allocated 80,000,000 YB (8%): 75M 'Curve Licensing' (claimable by the DAO proportionally as the 300M LP-emission reserve mints) + 5M 'Curve Governance' (fully unlocked at TGE). YB (token 0x01791f72, deployed 2025-09-15) is the YieldBasis governance token, locked in veYB and traded on Curve. The allocation sits in YieldBasis vesting/escrow; Curve DAO wallets hold ~0 directly because the YB is deployed as incentives (see usage vote).",
      "status": "active",
      "sources": [
        [
          "YB token contract (on-chain)",
          "https://etherscan.io/token/0x01791f726b4103694969820be083196cc7c045ff"
        ],
        [
          "YieldBasis tokenomics (Curve Licensing 75M + Curve Governance 5M)",
          "https://docs.yieldbasis.com/user/governance/tokenomics"
        ]
      ]
    },
    {
      "date": "2025-11-21",
      "cat": "governance",
      "title": "Curve directs its YB as vote incentives (55% Votium / 45% Votemarket)",
      "summary": "Curve DAO decides how to use its YB: deploy it as vote incentives split 55% Votium / 45% Votemarket (vote #1267, executed) to steer YieldBasis (veYB) gauge emissions toward Curve's crvUSD/YB pools. YB-emissions recipient set to 0x0997f89c (#1238). Rationale (#1241): 'utilizing YB for boosting crvUSD liquidity'. YB(+CRV) later added as rewards to all PegKeeper pools (#1353). So Curve's YB is an active flywheel spend, not a passive reserve.",
      "status": "active",
      "sources": [
        [
          "DAO vote #1267 (YB vote-incentive weights)",
          "https://www.curve.finance/dao/ethereum/proposals/1267-ownership"
        ],
        [
          "DAO vote #1238 (YB emissions recipient)",
          "https://www.curve.finance/dao/ethereum/proposals/1238-ownership"
        ]
      ]
    },
    {
      "date": "2025-12-05",
      "cat": "governance",
      "title": "crvUSD credit line to YieldBasis raised to 1B",
      "summary": "Curve DAO extends a crvUSD credit line to YieldBasis, scaled 60M (#1206) \u2192 300M (#1222) \u2192 1B crvUSD (#1279). This is crvUSD minting capacity granted to YB's vaults (collateralised), not a treasury outflow \u2014 it underpins the crvUSD\u2194YieldBasis flywheel that the YB allocation incentivises.",
      "status": "active",
      "sources": [
        [
          "DAO vote #1279 (raise to 1B)",
          "https://www.curve.finance/dao/ethereum/proposals/1279-ownership"
        ],
        [
          "Increase credit line for Yield Basis to 1B crvUSD",
          "https://gov.curve.finance/t/increase-credit-line-for-yield-basis-to-1b-crvusd/10945"
        ]
      ]
    },
    {
      "date": "2025-12-29",
      "cat": "grant",
      "title": "Swiss Stake 2026 operating grant",
      "summary": "17.45M CRV (~CHF 5.3M) to Swiss Stake, vesting Jan 2026 -> Jan 2027, funding a 25+ person team (R&D, infra, security & audits, ecosystem). Enacted by vote #1297 (executed 29 Dec 2025). Paid in two tranches \u2014 first half Dec 2025, second half (8.725M) released Apr 2026 via vote #1381 (executed). Unused rolls over; unusable returns to the DAO.",
      "status": "active",
      "sources": [
        [
          "DAO vote #1297 (executed)",
          "https://www.curve.finance/dao/ethereum/proposals/1297-ownership"
        ],
        [
          "second tranche #1381",
          "https://www.curve.finance/dao/ethereum/proposals/1381-ownership"
        ],
        [
          "Swiss Stake 2026 funding proposal",
          "https://gov.curve.finance/t/funding-proposal-for-swiss-stake-ag-grant-proposal-2026/10953"
        ]
      ]
    },
    {
      "date": "2026-02-06",
      "cat": "governance",
      "title": "eDAO emergency crvUSD reserve approved",
      "summary": "DAO approves up to 400,000 crvUSD from the treasury for potential future emergency use by the eDAO (vote #1344). An earmark \u2014 not necessarily drawn; track on-chain if/when it leaves the treasury.",
      "status": "active",
      "sources": [
        [
          "DAO vote #1344",
          "https://www.curve.finance/dao/ethereum/proposals/1344-ownership"
        ]
      ]
    },
    {
      "date": "2026-03-23",
      "cat": "grant",
      "title": "LlamaRisk crvUSD stream funded",
      "summary": "360k crvUSD streamed from the fee treasury into a Simple Vesting Escrow (0xd076) in tx 0xab4b67e5 \u2014 the crvUSD half of LlamaRisk's April 2026-27 package (vote #1363). ~71.6k was released before the exit; the unvested 270,247 crvUSD was returned to the treasury on 30 Jun 2026 when Vote 1441 executed.",
      "status": "active",
      "sources": [
        [
          "DAO vote #1363 (LlamaRisk package, executed)",
          "https://www.curve.finance/dao/ethereum/proposals/1363-ownership"
        ],
        [
          "funding tx (360k crvUSD)",
          "https://etherscan.io/tx/0xab4b67e5dc5cdc0e7cafc9a449f8523a8e70cd9338e09073733b5f60a4f97a2b"
        ]
      ]
    },
    {
      "date": "2026-03-24",
      "cat": "risk",
      "title": "LlamaRisk renewed through April 2027",
      "summary": "DAO renews LlamaRisk for risk management + crvUSD growth: 2.5M CRV (1-yr vest) + 360k crvUSD stream, April 2026-2027. Vote 1363 passed 100% (415M veCRV).",
      "status": "done",
      "sources": [
        [
          "DAO vote #1363 (executed)",
          "https://www.curve.finance/dao/ethereum/proposals/1363-ownership"
        ],
        [
          "LlamaRisk Services Proposal April 2026-2027",
          "https://gov.curve.finance/t/llamarisk-services-proposal-april-2026-2027/11004"
        ]
      ]
    },
    {
      "date": "2026-04-19",
      "cat": "grant",
      "title": "3.75M CRV vested to Curve Grants multisig",
      "summary": "3.75M CRV vested to the Curve Grants multisig (escrow 0xa94bec73) to fund the grants program \u2014 authorized as a rider on vote #1381 alongside the Swiss Stake second tranche, and paid in its execution tx 0x4d6ffd.",
      "status": "active",
      "sources": [
        [
          "DAO vote #1381 (executed)",
          "https://www.curve.finance/dao/ethereum/proposals/1381-ownership"
        ],
        [
          "execution tx (3.75M CRV)",
          "https://etherscan.io/tx/0x4d6ffdb65cc1b64799ca5c4c268068b81909c07001aef9c933f4fa9a59b56596"
        ]
      ]
    },
    {
      "date": "2026-04-19",
      "cat": "grant",
      "title": "520k crvUSD top-up to Swiss Stake proxy",
      "summary": "520k crvUSD top-up to the Swiss Stake operating proxy 0xe4f02acc \u2014 authorized on vote #1381 (the crvUSD rider alongside the Swiss Stake CRV second tranche) and paid in its execution tx 0x4d6ffd.",
      "status": "done",
      "sources": [
        [
          "DAO vote #1381 (executed)",
          "https://www.curve.finance/dao/ethereum/proposals/1381-ownership"
        ],
        [
          "execution tx (520k crvUSD)",
          "https://etherscan.io/tx/0x4d6ffdb65cc1b64799ca5c4c268068b81909c07001aef9c933f4fa9a59b56596"
        ]
      ]
    },
    {
      "date": "2026-05-31",
      "cat": "risk",
      "title": "LlamaRisk announces exit from Curve",
      "summary": "Two months after renewing, LlamaRisk announces it is concluding its Curve engagement effective 30 Jun 2026 \u2014 it took an exclusive sole-risk-provider mandate at Aave. A successor risk provider is left to the DAO. The on-chain follow-through (pending): Vote #1441 to cut its crvUSD stream, and the CRV vesting after 30 Jun to return to the treasury \u2014 not yet executed.",
      "status": "done",
      "sources": [
        [
          "LlamaRisk: Concluding our Curve engagement (forum)",
          "https://gov.curve.finance/t/llamarisk-concluding-our-curve-engagement/11090"
        ],
        [
          "DAO vote #1441 (on-chain consequence)",
          "https://www.curve.finance/dao/ethereum/proposals/1441-ownership"
        ]
      ]
    },
    {
      "date": "2026-06-16",
      "cat": "governance",
      "title": "100k OP moved to Swiss Stake multisig",
      "summary": "The full 100k OP balance is transferred from the Curve DAO Optimism vault to a Swiss-Stake-controlled multisig (vote #1433, executed 16 Jun 2026, on-chain transfer same hour) \u2014 a DAO L2 asset moved to the core-dev entity.",
      "status": "done",
      "sources": [
        [
          "DAO vote #1433",
          "https://www.curve.finance/dao/ethereum/proposals/1433-ownership"
        ]
      ]
    },
    {
      "date": "2026-06-22",
      "cat": "governance",
      "title": "Vote 1441 \u2014 revoke LlamaRisk crvUSD stream",
      "summary": "Governance vote to cut LlamaRisk's crvUSD stream and return the unvested remainder to the DAO treasury, following the exit announcement. Started 22 Jun; passed unanimously and executed 30 Jun 2026 (see the execution event). The CRV grant remainder is expected back separately after 30 Jun (still pending as of 6 Jul \u2014 see the 30 Jun event).",
      "status": "done",
      "sources": [
        [
          "DAO vote #1441",
          "https://www.curve.finance/dao/ethereum/proposals/1441-ownership"
        ],
        [
          "Revoke LlamaRisk crvUSD stream (gov forum)",
          "https://gov.curve.finance/t/revoke-llamarisk-crvusd-stream-and-return-unvested-allocation-to-the-dao-treasury/11101"
        ]
      ]
    },
    {
      "date": "2026-06-30",
      "cat": "governance",
      "title": "LlamaRisk engagement ends \u2014 CRV remainder returns",
      "summary": "End date of LlamaRisk's Curve engagement. Per LlamaRisk's exit statement, the CRV vesting cannot be cut early without burning the unvested portion, and the post-30-Jun remainder is expected back in the DAO treasury. Re-verified 27 Jul 2026 on-chain: the escrow keeps vesting normally \u2014 on 3 Jul 12:45 UTC LlamaRisk claimed 252,854.8 CRV to its Safe (tx 0xf604c8bc, covering vesting from 27 May through 3 Jul, i.e. mostly the pre-exit accrual plus a few days after); no further claim since \u2014 three weeks of no movement. Escrow still holds 1,859,372.23 CRV; no return tx to the treasury and no revoke vote for this CRV escrow exists yet (ownership votes checked through #1461) \u2014 return still pending.",
      "status": "pending",
      "sources": [
        [
          "escrow 0x9f8a \u2014 CRV remainder (on-chain)",
          "https://etherscan.io/address/0x9f8a1a29f5709daf7a69b8157cb6fef656b10976"
        ],
        [
          "LlamaRisk: Concluding our Curve engagement (forum)",
          "https://gov.curve.finance/t/llamarisk-concluding-our-curve-engagement/11090"
        ]
      ]
    },
    {
      "date": "2026-06-30",
      "cat": "governance",
      "title": "Vote 1441 executed \u2014 LlamaRisk crvUSD stream revoked",
      "summary": "Curve DAO Vote 1441 passed unanimously (536.8M veCRV for, 0 against) and executed on-chain at 16:00 UTC. It revoked the unvested remainder of LlamaRisk's crvUSD retainer stream: 270,247 crvUSD were returned from the vesting escrow 0xd0760552 to the crvUSD treasury 0x6508 in the same execution tx; the remaining vested ~18.2k crvUSD was claimed by LlamaRisk on 3 Jul 2026 (tx 0x8a97353b), leaving the stream at zero \u2014 the crvUSD leg is now fully settled. This is the crvUSD leg only \u2014 the separate CRV grant (escrow 0x9f8a1a29) keeps vesting (1,859,372 CRV left after LlamaRisk's 3 Jul claim) and has not returned as of this pass.",
      "status": "executed",
      "sources": [
        [
          "Vote 1441 (Curve DAO)",
          "https://www.curve.finance/dao/ethereum/proposals/1441-ownership"
        ],
        [
          "Return tx: 270,247 crvUSD -> treasury (Etherscan)",
          "https://etherscan.io/tx/0x25883780c97e5ee37415bd3613daa196459296ea8504cc081427dfe7a2b2e4d8"
        ]
      ]
    },
    {
      "date": "2026-07-02",
      "cat": "fees",
      "title": "Vote 1445 executed \u2014 Arbitrum & Base crvUSD fees flow to the treasury",
      "summary": "Curve DAO Vote 1445 (407.1M veCRV for, 0 against) executed on-chain at 16:25 UTC. It un-killed the FORWARD epoch on the Arbitrum and Base FeeCollectors and set the forwarding hook, so crvUSD admin fees collected on those L2s are now bridged to the DAO treasury 0x6508 instead of sitting unclaimed (~$1M of accumulated L2 fees per the proposal rationale).",
      "status": "executed",
      "sources": [
        [
          "Vote 1445 (Curve DAO)",
          "https://www.curve.finance/dao/ethereum/proposals/1445-ownership"
        ],
        [
          "Execution tx (Etherscan)",
          "https://etherscan.io/tx/0xd7a33697545f3bd59d9a6776b8c24e135b1bfeb59cbce4d2a13dd80f33fd8b23"
        ],
        [
          "Rationale (gov forum t/11100)",
          "https://gov.curve.finance/t/redirect-arbitrum-and-base-l2-fees-to-the-curve-dao-treasury/11100"
        ]
      ]
    },
    {
      "date": "2026-07-07",
      "cat": "governance",
      "title": "Call for Proposals opened for LlamaRisk's successor",
      "summary": "Michael Egorov opened a Call for Proposals on the governance forum for a new risk-assessment and market-monitoring mandate to replace LlamaRisk (engagement ended 30 Jun 2026). Scope covers crvUSD mint markets / PegKeepers and Llamalend isolated markets; candidate teams are asked to propose responsibilities, KPIs and the budget they would require \u2014 a future treasury/grants spend once a team is selected. The chosen team is expected to start by reviewing LlamaRisk's handoff materials (models, dashboards, repositories) and decide what is reusable. No replies and no vote yet as of 11 Jul 2026.",
      "status": "open",
      "sources": [
        [
          "Call for Proposals (gov forum t/11106)",
          "https://gov.curve.finance/t/call-for-proposals-curve-risk-assessment-and-market-monitoring/11106"
        ]
      ]
    },
    {
      "date": "2026-07-16",
      "cat": "governance",
      "title": "Vote 1450 executed \u2014 new 150k OP tranche to Swiss Stake multisig",
      "summary": "A new 150,000 OP tranche landed at the Curve DAO Optimism agent on 9 Jul 2026; DAO vote #1450 (496.9M veCRV for, 0 against) executed on 16 Jul at 18:39 UTC and forwarded the full balance (150,001 OP) to the Swiss-Stake-controlled multisig one minute later. The multisig immediately began deploying it as Llamalend v2 incentives on Optimism (~85.5k OP still held as of 18 Jul).",
      "status": "done",
      "sources": [
        [
          "DAO vote #1450",
          "https://www.curve.finance/dao/ethereum/proposals/1450-ownership"
        ],
        [
          "Mainnet execution tx",
          "https://etherscan.io/tx/0x70718544d6bfedccde9844097241037d7963e81f332e3c053ba2d152884604ed"
        ],
        [
          "Optimism transfer tx (150,001 OP)",
          "https://optimism.blockscout.com/tx/0x86784066f9483abae4e4bea9ec6440fbcda49a9a684a2437bc41e93ba6ceafcc"
        ]
      ]
    },
    {
      "date": "2026-07-21",
      "cat": "governance",
      "title": "Vote 1456 created \u2014 TreasuryStableDiversification strategy",
      "summary": "DAO ownership vote #1456 (created 21 Jul 2026, not yet executed) proposes to accept ownership of a new contract called TreasuryStableDiversification (0x70b3d2c2a508a87f9c18f46fe9ca42307cd021f7, verified on Etherscan) and approve its usage of treasury crvUSD. The contract is initialized with owner=DAO Ownership Agent, treasury=0x6508, asset=crvUSD \u2014 a strategy that would deploy treasury crvUSD through a diversification mechanism. Still in voting; 4 votes cast as of 21 Jul, execution pending.",
      "status": "pending",
      "sources": [
        [
          "DAO vote #1456",
          "https://www.curve.finance/dao/ethereum/proposals/1456-ownership"
        ],
        [
          "TreasuryStableDiversification contract (Etherscan)",
          "https://etherscan.io/address/0x70b3d2c2a508a87f9c18f46fe9ca42307cd021f7"
        ]
      ]
    }
  ],
  "l2_grants": [
    {
      "chain": "Arbitrum",
      "token": "ARB",
      "received": "~3.5M ARB",
      "distributed": "Streamed to Arbitrum LPs (2pool, crvUSD pools, TriCRV-ARB, MIM co-incentive) in tranches over 2024",
      "remaining": "~0",
      "exhausted": true,
      "note": "One foundation grant, distributed to Arbitrum LPs in tranches over 2024; vault empty since Aug 2024.",
      "votes": [
        "557",
        "563",
        "649",
        "716",
        "631"
      ],
      "sources": [
        [
          "DAO vote #563 (1.15M ARB tranche)",
          "https://www.curve.finance/dao/ethereum/proposals/563-ownership"
        ],
        [
          "DAO vote #716 (1.42M ARB)",
          "https://www.curve.finance/dao/ethereum/proposals/716-ownership"
        ]
      ]
    },
    {
      "chain": "Optimism",
      "token": "OP",
      "received": "~810k OP (4 tranches)",
      "distributed": "Tricrypto/TriCRV gauge incentives + LlamaLend bootstrap; 100k (#1433) and a new 150k tranche (#1450) forwarded to a Swiss Stake multisig for Llamalend v2",
      "remaining": "1.0 OP",
      "exhausted": true,
      "note": "500k (#522) + 60k (#761) + 100k (#1305) + 150k (Jul 2026) received over 2023-2026; distributed via #688/#1025/#1053; #1433 (16 Jun) and #1450 (16 Jul 2026) moved the last 100k + new 150k to multisig 0xc82a\u20266DD1 \u2014 being deployed to Llamalend v2 incentives.",
      "votes": [
        "522",
        "761",
        "688",
        "1025",
        "1053",
        "1305",
        "1433",
        "1450"
      ],
      "sources": [
        [
          "DAO vote #522 (500k OP)",
          "https://www.curve.finance/dao/ethereum/proposals/522-ownership"
        ],
        [
          "DAO vote #1433 (100k OP -> multisig)",
          "https://www.curve.finance/dao/ethereum/proposals/1433-ownership"
        ],
        [
          "DAO vote #1450 (150k OP -> multisig)",
          "https://www.curve.finance/dao/ethereum/proposals/1450-ownership"
        ]
      ],
      "live_ok": true
    },
    {
      "chain": "Sonic",
      "token": "S",
      "received": "Season-1 rewards",
      "distributed": "Routed to the crvUSD/USDC pool on Sonic",
      "remaining": "~0",
      "exhausted": true,
      "note": "Sonic incentive-program season-1 rewards claimed by the DAO and routed to the crvUSD/USDC pool on Sonic.",
      "votes": [
        "1182"
      ],
      "sources": [
        [
          "DAO vote #1182 (Sonic season-1)",
          "https://www.curve.finance/dao/ethereum/proposals/1182-ownership"
        ]
      ]
    }
  ],
  "dao_yb": {
    "alloc": 80000000,
    "licensing": 75000000,
    "governance": 5000000,
    "price": 0.07792740557390941,
    "alloc_usd": 6234192.445912753,
    "held": 0.0,
    "token": "0x01791f726b4103694969820be083196cc7c045ff",
    "recipient": "0x0997f89c451124EadF00f87DE77924D77A38419a"
  }
}