Curve (CRV) - is a decentralized exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity. On 24th of September, Curve (CRV) was listed for trading on the Emirex exchange.
- Curve is an exchange liquidity pool on Ethereum that is designed for efficient stablecoin trading.
- CRV is the native utility token in the Curve platform and is used for voting in platform governance, and as a reward for liquidity providers.
- CRV tokens are used to participate in the CurveDAO, a time-weighted voting system that grants early participants higher voting weight as the project evolves.
- The Curve liquidity pool is integrated with iearn.finance, which utilizes Aave and Compound, to maximize yield for liquidity providers even when their tokens are idle.
- Token Standard - ERC-20
- Curve DAO Price - $0,550904 USD
- Curve DAO ROI - -95,77%
- Market Rank - #150
- Market Cap - $46 090 595 USD
- 24 Hour Volume - $22 601 355 USD
- Circulating Supply - 83 663 614 CRV
- Total Supply - 1 345 565 275 CRV
- All Time High - $60,50 USD (Aug 14, 2020)
- All Time Low - $0,527961 USD (Oct 11, 2020)
Curve is a fully decentralized liquidity pool for stablecoin trading, launched in January 2020. Like many other DeFi protocols, Curve is deployed on the Ethereum blockchain and allows anyone to exchange stablecoins for other DeFi tokens almost instantly. By using Curve Finance, users are not exposed to the risk of price slippage that they usually face on many decentralized trading platforms. The development team wrote the Curve source code back in September 2019, however, the first release was not released until January 2020.
- Fully decentralized exchange of a wide variety of stablecoins including Dai and USDC;
- Curve lends DeFi assets on Compound (when not traded) and gives them to liquidity providers;
- Support for Trezor, Ledger, Metamask, Dapper wallets, and a dozen of others;
- Great liquidity - the average daily trading volume of $24 million (according to the Coinmarketcap).
CRV is Curve’s native token, it is generated when the user deposit and stake cryptocurrencies on the platform. It is awarded to liquidity providers proportional to their share from the yield which their pools make. With Curve’s transition to become a DAO, CRV tokens also represent the holders’ rights to take part in its governance mechanism, so they can make proposals and vote on them. And with CRV, governance will follow a ‘time-weighted’ voting system. It simply means that the longer they hold CRVs, the greater their voting power in the DAO becomes.
On August 14, an anonymous developer @0хc4ad Curve, without the knowledge of the project team, issued native Curve tokens and distributed them. To do this, he used the open-source code available on GitHub. The protocol team initially stated it as a scam. However, after checking, the team admitted that all the deployment parameters are real - code, administrator keys, and other data. The team had to recognize the release as valid since the token immediately began to gain momentum. After this announcement, Poloniex and a number of other major crypto exchanges included the token in the listing. A few hours later, all community members got the opportunity to stake, which was deployed on top of a smart contract launched by the user @0xc4ad. Some experts reacted negatively to the situation and considered the behavior of the Curve team to be wrong. They believe that it is necessary to redeploy the contract to avoid harm to the project.
- 16 Aug 2020: Launched the Curve DAO and CRV;
- 31 Aug 2020: Added an hBTC/wBTC pool;
- 27 Sep 2020: Introduce more USD stable coins to the Curve protocol: GUSD - HUSD - USDN - USDK;
- 07 Oct 2020: Introduced its first Metapool;
- 09 Oct 2020: Announced a big step towards scaling Ethereum in a secure and decentralized way.
Curve Finance does not have a clearly defined roadmap. However, there is one very important thing to note. Egorov mentioned in an interview that the Curve Finance team was playing with the idea of adding more cryptocurrencies to Curve Finance, and not just stablecoins.
He explained that this would require the creation of additional bonding curves which would better support more volatile assets. This potential change as well as any others is fundamentally up to CRV holders to vote on.
Curve can be a profitable alternative to Uniswap in terms of high frequency and the high volume of trades, but everyone should still consider how to effectively balance the potential reward with the associated risks. Its development is in full swing, the CRV token has been added to the largest platforms and is enjoying the interest of many users. If the Curve project continues to be successful in the months and years to come, despite some extraordinary launch moments, it could even become one of the most efficient DEXs in the DeFi space, offering low-slippage trades.