# CRV selling clusters after claims

Sales within a day of a matched claim account for 4.7% of all CRV sell dollars. Shifting the claim times gives 1.3%.

The comparison follows the same recipients and changes the claim clock. Selling is more concentrated after actual claims.

This timing pattern appears across the five emission tokens in the comparison. The provenance chapter then measures how much sold inventory came through reward channels.

## Sales cluster after reward claims

Sales within 24 hours after the seller’s matched claim, divided by all trade-linked sell dollars for that token. Only claim anchors at least 35 days from the window edges enter the matched comparison. The comparison shifts those anchors by $-28$, $-14$, $-7$, +7, +14 and +28 days. It measures timing; source tracing answers where sold inventory came from.

[Figure](../charts/claims.svg) · [Data](../data/claims.csv)

| Observation | Observed claim timing (% of sell USD) | Shifted claim timing (% of sell USD) |
| --- | --- | --- |
| CRV | 4.7 | 1.2625 |
| CVX | 1.2777 | 0.5403 |
| PENDLE | 2.8632 | 0.4001 |
| BAL | 2.1438 | 0.2002 |
| COMP | 2.9545 | 0.2516 |