Curve DAO Token

Curve DAO is a DeFi platform optimized for efficient stablecoin trading. Users can participate to earn rewards by providing liquidity to the platform.

What is Curve DAO Token? 

  • Curve DAO Token is a native currency on the Curve decentralized exchange platform where users can participate to earn rewards by providing liquidity to the platform. Orders are processed using automated market making (AMM) technology to provide low slippage for traders and minimize risk for liquidity providers. 
  • The Curve project was launched in January 2020 along with the Curve DAO Token (CRV). Besides using AMM, the platform also integrates Aragon to connect multiple smart contracts. 
  • Curve mainly operates on the Ethereum network, but is also available on the Polygon, Fantom, and xDAI networks. 
  • The Curve smart contract is audited by the best in the industry – Trail of Bits, and also Quanstamp. The audit report can be found here.

Key Metrics

TickerCRV
Token NameCurve DAO Token
Token Type/ProtocolERC20/Ethereum, also available on Fantom and xDai
Total Token Supply1,580,975,538
Current Circulating Supply See Coinmarketcap
Market CapitalisationSee Coinmarketcap
Token Creation DateJan 2020
Can it be mined?No

Who is behind Curve DAO Token? 

Curve is founded by former CTO of NuCyper, Michael Egorov. Michael also acted as CEO of the project from the project launch until today.  

What is the purpose of Curve DAO Token?

Curve DAO Token (CRV) functions as a governance token on the Curve platform. The weight of the voting of each CRV token holder is calculated based on both the amount of token staked and the period of staking. The longer the users have staked the token, the more power they have on the network. 

Insights:

This Blockchain technology is built to eliminate intermediaries, however due to the limited transactions a decentralized system can accommodate, and the steep learning curve to access a fully decentralized product, centralized services exist. A decentralized exchange platform such as Curve could have a big potential due to the technology growth, the liquidity growth, as well as the blockchain ecosystem, especially decentralized finance growth.

  • Curve is ranked 7th on the Dappradar Top DeFi rankings. 
  • At the current coin market price, Curve is estimated to hold around $7 billion liquidity on their platform (TVL). 
  • One of the main challenges that the DeFi platform built on Ethereum blockchain faces is the high transaction fee the network charges. Despite these facts, Curve is able to onboard traffic to their platform. The migration of Ethereum to PoS (ETH 2.0) might increase the value of Curve platform due to the vanishing barrier of transaction fees.

Risks:

  • DeFi platforms pose several technological security risks such as flash loan attack, smart contract exploitations, etc. due to a lot of points that entry attackers could use to steal from the pool.  
  • The platform is not that easy to use while similar projects are rising. That provides more other options for users.

News and Updates:

  • There’s a finding recently about potential IP rights problems that might arise concerning Curve.
  • The Curve community is working on a proposal to replace the emergency DAO multisig.
  • CRV potential has attracted several institutions including Delphi Digital in a report published on July 21, 2021 by Cointelegraph. 

Community & Whitepaper Links:

Disclaimer

All investment is speculative and involves substantial risk and uncertainty. Investors should understand the nature of digital assets including the terms of return and the risk of assets. We encourage investors to fully understand the assets and the risk associated with them prior to making any investment.  

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