# Vote-incentive funding totals $59.8 million

The observed Ethereum and L2 accounts contain $59.8 million of vote-incentive funding.

New CRV issuance was worth $124.1 million at the event marks.

FeeDistributor received $22.9 million. These are cash receipts into the distribution contract.

Observed monthly funding fell from $2.70 million in November 2025 to $1.17 million in September 2026. That is a decline of 57%.

## Funding, issuance and fee receipts are different flows

Whole-window accounts, including partial October boundary months. Funding is the corrected observed Curve-linked priced subtotal; Base funding and some token values remain missing. Minted CRV is incremental issuance valued at event marks. FeeDistributor receipts are cash receipts, not accrued protocol revenue or voter income. The three flows are not additive.

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

| Observation | Observed marked USD ($m) |
| --- | --- |
| Vote-incentive funding | 59.769 |
| Minted CRV | 124.092 |
| FeeDistributor receipts | 22.9474 |

## Monthly incentive funding declined through 2026

Corrected observed funding deposits by calendar month. The first and last months are partial. Known unpriced records and missing Base funding remain outside the subtotal. Non-dollar tokens use the latest acquired strictly-prior marks, whose age is retained in the source release.

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

| Observation | Curve-linked priced funding ($m per month) |
| --- | --- |
| 2024-10 | 0.4616 |
| 2024-11 | 1.5753 |
| 2024-12 | 4.4973 |
| 2025-01 | 3.4491 |
| 2025-02 | 2.8249 |
| 2025-03 | 2.9197 |
| 2025-04 | 2.7938 |
| 2025-05 | 3.1807 |
| 2025-06 | 2.882 |
| 2025-07 | 3.6103 |
| 2025-08 | 3.8756 |
| 2025-09 | 3.7198 |
| 2025-10 | 2.7861 |
| 2025-11 | 2.7041 |
| 2025-12 | 2.434 |
| 2026-01 | 2.6734 |
| 2026-02 | 2.4642 |
| 2026-03 | 2.2334 |
| 2026-04 | 1.7309 |
| 2026-05 | 1.3157 |
| 2026-06 | 1.1375 |
| 2026-07 | 0.9651 |
| 2026-08 | 1.4097 |
| 2026-09 | 1.1713 |
| 2026-10 | 0.9533 |

## Measurement

Funding is the corrected observed priced subtotal, including recovered L2 deposits and revised prices. Base histories and some token valuations remain missing. The source release reports price ages and unpriced records. CRV- and CVX-linked funding scopes overlap and must not be added. FeeDistributor receipts differ from cash ultimately claimed by holders.