Llamaairforce Union: Routing Rewards to Pounders
Llama Airforce’s Union converts Votium rewards for locked CVX holders into selected compounding allocations. Users retain custody of their original CVX and manage its locks themselves.
Page sections
- Voting Setup
-
Participants delegate voting power from locked CVX (vlCVX) to
votium.ethand forward Votium reward collection to the Union. - Reward Destinations
- One or more selected allocations, including uCRV, uCVX, and scrvUSD. The uCVX allocation compounds pxCVX, a liquid CVX wrapper with custody and temporary depeg risks.
- Reward Delivery
- Airdropped compounding tokens, with unclaimed allocations rolling over into the next reward round.
Reward Collection and Conversion
Votium rewards can arrive in multiple tokens, each requiring an individual claim when collected separately. Those claims incur gas costs on Ethereum. The Union gathers the rewards and converts them into the participant’s chosen compounding allocations.
Voting delegation and reward forwarding affect different parts of this arrangement. Delegation assigns voting power to
votium.eth
; forwarding collection lets the Union process the resulting reward tokens. Neither arrangement gives the Union control over the participant’s CVX locks.
Allocation Destinations
The allocation choice determines which asset receives the converted reward proceeds. uCRV allocations use a Pounder that compounds cvxCRV staked single-sided on Convex. uCVX allocations use a Pounder that compounds pxCVX. Rewards assigned to scrvUSD enter Curve’s vanilla scrvUSD vault directly.
The original CVX position and the reward allocation carry separate exposures. Selecting uCVX introduces the custody and temporary depeg risks of pxCVX into the reward allocation. The participant continues managing the original CVX locks.
Pounders also accept deposits and withdrawals without Union membership. Direct Pounder access therefore provides a separate way to compound cvxCRV or pxCVX without forwarding Votium reward collection.
Reward Processing and Yield Fees
The fee section of The Union records these terms for 6 December 2024:
- Operating Gas
- The Union divides its operating gas costs evenly among users.
- Standard Allocations
- A 2% charge on incoming rewards, plus a variable fee on the yield from airdropped Pounder shares.
- scrvUSD Allocation
- A 4% charge on incoming rewards and a 0% yield fee. Rewards enter Curve’s vanilla scrvUSD vault directly, where the Union does not charge a yield fee.
The scrvUSD exception shifts the fee structure toward reward processing because the Union collects no subsequent yield fee. These percentage charges concern incoming rewards or their later yield; they do not apply to the participant’s original CVX balance.
Llama Airforce directs users to each Pounder’s APY hover display for its specific fee structure.
Unclaimed Allocations and Zap Claims
An unclaimed airdrop already represents rewards converted into the selected compounding allocation. The Union carries unclaimed rewards into the following round, so their compounding continues before collection. Claiming the compounding tokens transfers them to the participant’s wallet, where their compounding mechanism continues to apply.
Zaps provide another output option when claiming or withdrawing rewards: a specific supported token. Some zap routes require multiple swaps through Curve pools, which can increase gas costs.
Allocation Checklist
- For direct compounding of cvxCRV or pxCVX, Pounder deposits do not require Union membership.
- When considering uCVX, include the custody exposure and temporary depeg risks of its underlying pxCVX wrapper.
- For scrvUSD, distinguish the incoming-reward charge from the 0% yield fee in the dated schedule.
- For a zap claim, account for gas costs from any required Curve pool swaps.
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