LibraryMarkets2021Design paperCorpus record
Convex: a metering layer for Curve gauge weights
Convex. Convex.
Convex publishes a system that locks governance tokens and meters emissions toward Curve gauges, so depositors can receive incentives without locking the underlying governance token themselves.
A reading of the project's public design document. Not a copy, not a benchmark, and not an offer.
Convex publishes a system that locks governance tokens and meters emissions toward Curve gauges, so depositors can receive incentives without locking the underlying governance token themselves.
- Evidence
- Primary paper
- Re-measured
- No
- Assumptions
- 3
- Records linked
- 2
01 Claim ledger
What the paper is allowed to say
Each row is a sentence already in the study. The status is the same on every row: a model claim, not a live measurement.
Claim 01 · Paper model
The defect
A metering layer is a political allocation of emissions. It is not a new AMM. The AMM is still Curve.
Claim 02 · Paper model
The proposal
Convex publishes a system that locks governance tokens and meters emissions toward Curve gauges, so depositors can receive incentives without locking the underlying governance token themselves.
Claim 03 · Paper model
The mechanism
Users deposit the liquidity or governance receipt the docs name. Convex locks the governance token and votes gauges.
Claim 04 · Paper model
The bound
No emission rate is stated here.
02 Three cuts
Observation, model, falsifier
A desk does not stop at the summary. Each claim is cut three ways, using only this study's own assumptions and checks. Nothing here is a new figure.
01 The defect
02 The proposal
Observation
What the study says
Convex publishes a system that locks governance tokens and meters emissions toward Curve gauges, so depositors can receive incentives without locking the underlying governance token themselves.
Falsifier
What would retire it
What token is locked, and for how long does the document say?
03 The mechanism
Observation
What the study says
Users deposit the liquidity or governance receipt the docs name. Convex locks the governance token and votes gauges.
Falsifier
What would retire it
What token is locked, and for how long does the document say?
04 The bound
Observation
What the study says
No emission rate is stated here.
Falsifier
What would retire it
What token is locked, and for how long does the document say?
03 Sequence
One action, as an operating tape
- 01Users deposit the liquidity or governance receipt the docs name. Convex locks the governance token and votes gauges.
- 02The reward a depositor sees is a function of emissions and the vote. Emissions are someone else's policy.
- 03A wrapper token is a claim on that arrangement. It is not the Curve pool token unless the docs say redemption returns it.
04 Load-bearing
The argument, and where a pitch drops it
What the name has to mean
The cut
Convex publishes a system that locks governance tokens and meters emissions toward Curve gauges, so depositors can receive incentives without locking the underlying governance token themselves.
Why it carries weight
If this cut is skipped, the paper's name is being used without the mechanism that makes the name mean anything.
Where it is dropped
Curve's stableswap study is the AMM. This is the metering layer on top.
What actually moves
The cut
The reward a depositor sees is a function of emissions and the vote. Emissions are someone else's policy.
Why it carries weight
If this cut is skipped, the paper's name is being used without the mechanism that makes the name mean anything.
Where it is dropped
A later client, parameter or reward formula is a different object from this paragraph.
What a later deployment may change
The cut
A wrapper token is a claim on that arrangement. It is not the Curve pool token unless the docs say redemption returns it.
Why it carries weight
If this cut is skipped, the paper's name is being used without the mechanism that makes the name mean anything.
Where it is dropped
Curve's stableswap study is the AMM. This is the metering layer on top.
05 Register
What has to be true
Model · Not re-measured
You are reading Convex's docs. Curve's own paper is a different mechanism.
Model · Not re-measured
The document is the one at the source URL. A marketing page with the same brand is not this text.
Model · Not re-measured
No price, supply, yield, or adoption figure is added by this desk.
06 Divergence
What happened after the paper
A vote that can be sold is a governance market. Describe it as one.
A later client, parameter set, or reward formula is a different object. Cite this paper for the mechanism. Cite a primary release for the network. This desk has not re-run the proof.
07 Pre-mortem
What to check before you use the idea
- 0 of 3 marked on this browser. A mark is a reading note, not a pass, a rating, or a recommendation.
08 Anatomy
The paper, in the order a builder needs
The problem it names
A metering layer is a political allocation of emissions. It is not a new AMM. The AMM is still Curve.
What the design proposes
- Users deposit the liquidity or governance receipt the docs name. Convex locks the governance token and votes gauges.
- The reward a depositor sees is a function of emissions and the vote. Emissions are someone else's policy.
- A wrapper token is a claim on that arrangement. It is not the Curve pool token unless the docs say redemption returns it.
How the mechanism is specified
- Users deposit the liquidity or governance receipt the docs name. Convex locks the governance token and votes gauges.
- The reward a depositor sees is a function of emissions and the vote. Emissions are someone else's policy.
- A wrapper token is a claim on that arrangement. It is not the Curve pool token unless the docs say redemption returns it.
What this page does not treat as proven
Why the desk still reads it
Convex publishes a system that locks governance tokens and meters emissions toward Curve gauges, so depositors can receive incentives without locking the underlying governance token themselves.
09 Lexicon
Terms, opened into the record
- Gauge
- A Curve weight that receives emissions. Convex's object is influence over gauges, not the swap invariant.
- Metering
- Directing a finite emission toward a pool. It is an allocation, not a yield law.
10 Repository
Every linked record on this page
Underlined words open a page that already exists: a concept, a protocol profile, a failure record, or another paper. If a word is not underlined, this desk does not have a record for it.
Concepts
Papers
This is Blockchain Lab's reading of a public design paper. It is not the paper, not a copy of it, and not an offer of tokens, equity, custody or a partnership. Later network behaviour can diverge from the text. Nothing here is investment, legal or technical advice.
Research status: Design paper. Last reviewed: 1 October 2026. This is a reading of a public paper, not investment, legal or security advice.