Warden is a new type of non-custodial market based on the veBoost system, allowing veToken holders to place offers for veBoost on their balance, while still having their veToken available for Gauge Weights votes and DAO votes. Also, when no veBoost is bought based on your balance, the owner keeps the balance as a personal boost.
To participate in the Boost market a veToken holder must give approval to the Warden contract to create VeBoosts on their balance then set the following parameters:
- Pricing (in the native token)
- The minimum and maximum values of how much of the balance can be used for offers (if the maximum is set at 50%, only half of the balance is available to create veBoosts, the rest can be used by the owner)
- Optional: a registration limit that if set will remove your balance from the market at the requested date
Warden then allow LPs to buy a veBoost (paying the fees in the native token), and try to maximize their Gauge multipliers to increase the yield on their provided liquidity, with or without having any of the veToken themselves.
Through the Curve ecosystem, the veCRV token (for VotingEscrowCRV) holds multiple utilities. One of them is to boost the user balances in the Liquidity Gauges, to increase the CRV they can receive through the distribution, up to a 2.5 multiplier (for more info, see Boosting in Curve docs).