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A step-to-step Guide to use Clever Protocol for completely beginner

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Tao Wang
Tao Wang

In this tutorial, you'll learn the basic Defi concept and how to use the different investment options in Clever Protocol.

Let's start with How Clever protocol works

The Key Feature:​

  • $clevCVX represents future $CVX yield 1:1
  • Mint up to 50% of deposited amount.
  • No liquidation and self-repaying since it borrow in the same asset

Investment Options

Mainly visulize the tweet thread from @lLANERO https://twitter.com/iamllanero/status/1585758590295429120 https://twitter.com/iamllanero/status/1584947322948964358

1. Easy Mode (Deposit in Furnance)​

Target Customer: Use the Clever to gain more CVX.

Step 1: I have 100 $CVX that I deposit into CLever. This gives me the immediate ability to claim 500 clevCVX. My current position is:

  • 1000 CVX deposited
  • 0 clevCVX owed
  • 500 clevCVX claimable

Step 2: After I claim all 500 clevCVX, my position is:

  • 1000 CVX deposited
  • 500 clevCVX owed
  • 0 clevCVX claimable

Step 3: I decide to deposit my clevCVX 500 into the Furnace, my position is:

  • 1000 CVX deposited
  • 500 clevCVX owed
  • 0 clevCVX claimable
  • 500 clevCVX deposited in Furnace
  • 500 CVX pending in Furnace

Step 4 (No action for user): After the harvest, assume there's 1 M CVX in CLever, 300K of clevCVX in Furance and the bribe round harvest is 8K CVX after fees. I get 13.3 CVX (500 clevCVX / 300K clevCVX in Furnance => 0.167% * 8K CVX harvest)

  • 1000 CVX deposited
  • 500 clevCVX owed
  • 0 clevCVX claimable
  • 486.7 clevCVX deposited in Furnace
  • 486.7 CVX pending in Furnace
  • 13.3 CVX claimable in Furnace

2. LP farmer in a Curve clevCVX-CVX LP pool/ Balancer 90/10 clevCVX-CVX pool​

Target customer: Love the Clever project, and willing to put the investment gain into Clev token.

Step 1: If you have both CVX and clevCVX, Go to Curve factory and deposit

Step 2: After deposit, Approve& Deposit the clevCVX_CVX into CLever farming page

Step 3: Optional you can also use the Zap option, to deposit only one token from the following list CLevCVX, CVX, WETH, ETH, USDC.

Step 4: You can boost your Curve LP pool by lock your ClevCVX as veCLEV. You can know min veCLEV for max boost. 1 ClevCVX lock for 4 years = 1 veCLEV.

3. LP farmer in a Curve ETH/CLEV​

Target customer: Super fan of the Clever project. Love to to accumulate more CLEV

Step 1: If you have both ETH and CLEV, Go to Curve factory and deposit

Step 2: After deposit, Approve& Deposit the ETH_CLEV into CLever farming page

Step 3: Optional you can also use the Zap option, to deposit only one token from the following list CLEV, WETH, ETH, USDC.

Step 4: You can boost your Curve LP pool by lock your ClevCVX as veCLEV. You can know min veCLEV for max boost

Extra How to watch your funds in CLever CVX​

Use the Debank to check the protocol

Took llanero's debank account as example

Summary:

  • CVX locked: 10000
  • ClevCVX Owned: 5000
  • veCLEV for boosting: ~3000
  • Farming ETH/CLEV: 14.16 ETH + 2175.92 CLEV
  • No Farming info for ClevCVX/CVX in curve
  • No Famring info for ClevCVX/CVX in Balancer