Self-described as "overreacting", the Curve founder controls 71 per cent of the governance votes in the agreement

According to Blockbeats, Michael Egorov, founder and chief executive of Curve, now controls 71 per cent of the governance votes on the decentralised trading platform.

Curve issued its governance token, CRV, last week, as if to offset it. With over 50% of the votes in the yEarn Protocol, Mr Egorov says he has "overreacted" by locking up more CRVS, apparently shifting power in his favour.& have spent

In order to vote on Curve's proposal, CRV scrip holders must lock up their scrip and get veCRV in return. A veCRV on the curve represents a person's right to vote. Users can lock up their tokens at different times. The longer users lock up tokens, the more voting rights they have.

Since founders earn far more than liquidity providers and other voters, this sort of behaviour almost shuts everyone else out. So many users guessed that the vote would now be meaningless. The Curve team now encourages scrip holders to lock up their CRVS to balance the current voting structure. But only 6.7% of the CRVS in circulation were voted by lockers.

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