ve3,3 landscape 🧵 Who’s actually paying holders today? Bookmark to not lose it. 1. Legacy ve3,3 DEXs 1/ @AerodromeFi: @AERO Base’s main liquidity hub. Deeper liquidity → more volume → more fees → more votes, a classic ve(3,3) flywheel. Metrics: $14.5M fees/holders revenue (30d) Distribution mechanics: - Lock AERO up to 4y → veAERO (NFT) voting power - veAERO voters receive 100% of trading fees + bribes from pools they vote for - LPs get AERO emissions; protocols/bribers pay veAERO to redirect emissions 2/ @VelodromeFi: $VELO One of Optimism's core liquidity hubs. Basic vote → fees to voters model that inspired most other ve3,3 DEXs. Metrics: $642K fees/holders revenue (30d) Distribution mechanics: - Lock VELO up to 4y → veVELO (NFT) - Weekly assessment voting directs emissions - veVELO voters earn 100% of pool fees + bribes from the pools they vote - LPs farm VELO emissions, not swap fees 3/ @ThenaFi: $THE BNBs ve(3,3) liquidity layer / “SuperApp” DEX with gauges + bribe market. Metrics: ~$494k fees and ~$492k holders revenue (30d) Distribution mechanics: - Lock THE (max 2y) → veTHE voting power - Weekly votes direct emissions; protocols bribe veTHE to win liquidity - veTHE earns fees + bribes from voted gauges; modest anti-dilution rebase (~30%) - LPs receive THE emissions driven by “real-yield” metrics 4/ @CurveFinance: $CRV OG stablecoin/LST swap DEX, but still a major fee machine. Metrics: $12.7M fees & ~$6M holders revenue (30d) Distribution mechanics: Lock CRV 1w–4y → non-transferable veCRV veCRV holders receive ~50% of Curve trading fees, distributed pro-rata veCRV votes set gauge weights → where CRV emissions flow; lockers also boost LP yields 2. Yield 1/ @pendle_fi: $PENDLE Tokenizes yield (PT/YT) so users can trade or lock in fixed/levered yield across LSTs, RWAs, and DeFi rates. Metrics: ~$2M fees & $1.5M holders revenue (30d) Distribution mechanics: - Lock PENDLE → vePENDLE voting power. - Weekly votes route PENDLE incentives to specific yield markets. - vePENDLE gets 80% of swap fees from pools they vote for + bribes, and LPs can get boosted yield with vePENDLE. 2/ @spectra_finance: $SPECTRA Smaller yield-tokenization/marketplace protocol, targeting LSD/DeFi yield trading with ve(3,3) lockers. Metrics: $4.7K fees & $3K holders revenue (30d) Distribution mechanics: - Lock SPECTRA 1w–4y → veSPECTRA. - veSPECTRA votes on gauges and earns protocol revenues/incentives like other ve-systems. 3. New-wave ve(3,3) DEXs 1/ @BlackholeDex: $BLACK Fast-growing AVAX CLMM/AMM DEX with dual veNFT design and heavy real-yield focus. Metrics: ~$2.04m fees/holders revenue (30d) Distribution mechanics: - Two lock types: - Singularity veNFT = time-lock BLACK up to 4y → decaying veBLACK. - Supermassive veNFT = permanent burn → non-decaying voting power + reward bonuses. - Weekly gauge voting; veBLACK earns pool fees + bribes from voted pools, plus rebases (stronger for Supermassive). 2/ @KittenswapHype: $KITTEN DEX on HyperEVM, basically a Velodrome-style ve(3,3) fork for Hyperliquid-native liquidity. Metrics: ~$267K fees & $253K holders revenue (30d) Distribution mechanics: - Lock KITTEN → veKITTEN (NFT voting power). - veKITTEN directs emissions; voters earn pool fees/bribes from voted gauges (Solidly pattern). 3/ @ShadowOnSonic: $SHADOW Sonic’s flagship concentrated-liquidity DEX. Uses x(3,3) (more flexible ve-variant) + Sonic’s FeeM rebates. Metrics: $442k fees & $380K holders revenue (30d) Distribution mechanics: - SHADOW can be converted to xSHADOW; xSHADOW earns 100% of protocol fees, vote incentives, and rebases. - Weekly votes direct emissions; projects bribe xSHADOW to attract liquidity. - Sonic FeeM rebates (90% of fees rebated) are routed to xSHADOW/x33 holders. What protocols did I miss? Hope you enjoyed this post and found some new VALUABLE information. If you wanna support me, I'd appreciate a like, reply, and RT <3