Synthetix & Lyra Incentivize sUSD liquidity on Optimism

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This blog post has been updated recently (5/1/22) - Synthetix and Lyra are now incentivizing vlCVX (Convex Finance) voters through Votium Protocol instead of veCRV. Please read carefully.

The time has finally come. Synthetix and Lyra have begun incentivizing liquidity for sUSD on Optimism.

Synthetix has begun incentivizing vlCVX voters on Votium to vote for the sUSD gauge on Optimism. It makes more economic sense than direct incentives because, for every $1 spent on obtaining votes, the sUSD pool will receive more than $1 in CRV emissions.

Put simply: Synthetix spends $1 to receive more than $1 in CRV emissions to the sUSD pool on Optimism. These pool rewards can be earned by users once the rewards are active.

Rewards for vlCVX voters on the sUSD<>3CRV gauge are as follows:

12,000 $SNX weekly
50,000 $LYRA weekly

Note: These rewards are given to vlCVX voters to incentivize them to vote for the sUSD pool.

Note: Synthetix initially incentivized votes for veCRV voters but have discontinued them in favor of incentivizing vlCVX voters through Votium Protocol.

Once the gauge weight is concluded, CRV incentives will begin flowing to the sUSD<>3CRV pool. sUSD holders will be able to earn additional yield by depositing their sUSD into this pool once the gauge weight has concluded.

Votium vlCVX Holders - sUSD Voting Tutorial (Current)

First go to https://votium.app/
If you’re not delegated to the Votium, then vote on our sUSD gauge incentives manually by clicking “Vote on Snapshot” for optimism-f-sUSD3CRV

If you are already delegated, you will automatically vote for the sUSD pool on Optimism, though you can manually vote on snapshot to allocate more of your vlCVX towards the pool.
That’s it! You're done.

vlCVX Voters - How to claim your SNX & LYRA Rewards (Current)

First, go to https://votium.app/
Then click “Claim Rewards” at the top of the screen

SNX and LYRA rewards will be claimable at the end of each week.

veCRV Voters - Claim your SNX & LYRA Rewards (deprecated)

First, go to https://vecrv-bribes.llama.airforce/.
Then, add the SNX and LYRA token addresses into the "Search Rewards" box.

SNX Token Address: 0xc011a73ee8576fb46f5e1c5751ca3b9fe0af2a6f

Lyra Token Address: 0x01ba67aac7f75f647d94220cc98fb30fcc5105bf

Once rewards are available (weekly), you'll be able to claim your SNX and LYRA rewards. Both rewards will look like the image below.

Any Questions

If you've got any comments or questions about these incentives, please join the conversation on Discord.