Frequently Asked Questions

Frequently Asked Questions

What does “New memberships will activate in XX:XX:XX” mean?

Joining the Union requires a two-step process to be completed before a specified deadline: locking your CVX tokens and joining the Union itself.

If you miss the deadline, the consequences depend on which step was not completed.

1. Missed CVX Locking: If your CVX tokens are not locked before the deadline, unfortunately, you won't be eligible for rewards in the ongoing round.

2. Missed Union Joining: If you locked your CVX tokens on time but didn't join the Union before the deadline, you can still receive rewards, but it requires a manual vote on your part. The Union won't process your rewards automatically, which means you'll need to claim them directly from Votium.

Remember, to enjoy the automatic reward processing feature of the Union, both steps must be completed before the deadline for each round.

I have unclaimed rewards from previous rounds in my Votium account, can the Union claim them and convert them to cvxCRV?

No, the Union can't process rewards earned prior to joining. Pre-existing Votium rewards must be claimed and converted manually by the user.

What is the value of my uToken, and do I need to swap it?

uTokens are essentially your proof of ownership in the vault. They're not something you swap or trade. Rather, they reflect how much of the underlying vault asset you are being owed. When you deposit, you receive uTokens, and when you want to withdraw, you simply return these tokens. The value of each uToken grows over time as the vault earns profits, so even though the amount of uTokens you hold stays the same, their worth in the underlying token increases.

Hello admin, wen airdrop rewards? Wen claim?

The airdrop of rewards is a two-step process. First, Votium needs to distribute the rewards. After that, we start our part of the process. So, in short, the airdrop will happen "soon", usually around Wednesday. Keep an eye on the announcements for any updates!

Can we claim on L2?

Sorry, but claiming on L2 won't be possible in the near future. Our goal is to convert to mainnet assets, which is only available on L1. Additionally, activities on L2 are still quite limited, and it's actually less expensive to claim on L1 than to claim on L2 and then bridge back to L1. So, for now, all claims need to be made on L1.

Locking CVX

I locked or relocked more CVX, do I need to do anything?

If you've locked or relocked more CVX, there's no additional action required. Once you've delegated to Votium and forwarded your address, you're all set. These steps are one-time actions per address.

Is my CVX safe?

The Union doesn't hold custody of your CVX, so if you keep it safe yourself, it's safe. Delegating and forwarding your address won't compromise that security. Nobody else can access your CVX.

My CVX lock expires on the start date of the next round, will I be included?

If your CVX lock is due to expire at the beginning of the next round, don't worry, you'll still be included. Convex vote snapshots take into account the status a day before the lock expires. However, to participate in the round that begins two weeks later, you'll need to relock your CVX.

Voting

What if I want to vote manually instead of delegating to Votium?

There’s really no point. Votium will optimize your bribe income and it all gets converted to cvxCRV in the Union.

In essence, it's unnecessary. Votium will maximize your bribe earnings, and within the Union, whatever rewards you get will be converted into your allocation anyway. It's hard to beat the big ol' Votium delegation.

Security

Has the Union been audited? Can devs access my funds?

The Union has been built with careful attention to safety, and every bribe round is handled manually via multisig, although a lot of intermediary steps are automated with off-chain scripts.

The pounders themselves are based on the battle-tested auto-compounder vaults by Yearn, standardized by ERC-4626.

Manual processing of bribes is a must, as the Union can't predict what tokens we'll get as bribes. For instance, in the past tokens like Wormhole LUNA need special handling to convert them into uTokens.