In an apparent move to counter this, Egorov (who controls address 0x9b.36b029) extended a vote lock for a total of 621,860 CRV tokens (worth ~$1.7 million) under a single address, netting him 618,568 veCRV, or 71% of the voting power. This made it fairly easy for an address controlled by yield aggregating platform Yearn.finance, which runs a Curve liquidity pool, to obtain a significant proportion of the voting power (close to 58%). In fact, Egorov told Decrypt that only 6.7% of the nearly 10 million CRV tokens currently in circulation are vote locked right now-an indication of how few token holders are actually participating in the DAO. However, since the token’s launch on August 14, only a small fraction of CRV holders have vote-locked their tokens, leaving a handful of addresses with a large amount of voting power. Holders can then use veCRV to vote on network proposals submitted through the Curve DAO, and those with a high enough veCRV can even submit their own proposals for consideration.
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