Clover Finance ist eine Blockchain-Infrastrukturplattform, die das Ziel verfolgt, DeFi-Anwendungen Blockchain-übergreifend kompatibel zu machen. Das CLV-Token dient zur Bezahlung von Clover-Transaktionen und berechtigt zur Teilnahme an Abstimmungen über Netzwerk-Upgrades. Clover will darüber hinaus die Interoperabilität zwischen Bitcoin und anderen Blockchains ermöglichen. Hinweis: Coinbase unterstützt das auf Ethereum (ERC-20) aufsetzende CLV-Token.
What Is Clover Finance (CLV)?
Clover Finance (CLV) is a blockchain infrastructure platform that focuses on cross-chain compatibility of decentralized finance (DeFi) applications. CLV provides a seamless gateway without requiring any central intermediary. Clover also intends to allow interoperability, i.e., sharing of data and communication, between Bitcoin and other blockchains.
Today's decentralized financial networks are isolated in silos, unable to communicate with one another in a secure manner and genuinely trade value. As a result, custodial services are increasingly offering potentially harmful products, putting the broader ecosystem at risk. Handing over the management of assets to third parties goes against the spirit on which cryptocurrency was founded. Thus, as stated in the whitepaper, Clover provides a viable solution to this issue by utilizing SPV simulation technology. This technology enables easy cross-chain communication and trustless two-way pegs across Ethereum, Bitcoin, Polkadot, and more. This two-way peg, also known as 2WP, has been developed in-house by Clover and is a critical component of Clover’s architecture. It allows an asset to be transferred smoothly from one blockchain to another and vice versa.
In addition to its cross-chain capabilities, Clover is building a basic layer for decentralized applications (DApps) to run smoothly. This is achieved with the execution of Substrate frameworks. Substrate is Polkadot'sfoundation layer, which provides a powerful framework for quickly building customized future-proof blockchains. Using Polkadot’s Substrate framework, developers may design blockchain logic in various popular programming languages rather than having to stick to just one primary language. DApps on Clover also benefit from a variety of Substrate-based developer tools like identity-based scripting abilities, many digital signatures (multi-sig), and more. These tools seek to enhance the overall protocol security of the application.
Besides that, Clover chain seeks to improve permissionless cross-chain interactions between Ethereum and Polkadot networks using EVM (Ethereum virtual machine)-based applications, a software platform used by developers to create decentralized applications on Ethereum.
Another prominent feature offered by Clover is that it supports a gasless transaction model to streamline the user experience. Therefore, consumers don’t need to pay high costs when the network is congested, alleviating some of the scalability issues.
Additionally, Clover Finance is an open-source project decided by the entire community. Clover's native token, CLV, is a multi-purpose asset in its ecosystem. The token is used for voting on system upgrades as well as for governance purposes.
History of Clover Finance (CLV)
Clover Finance was founded in 2020, and its cofounders include Viven Kirby, Norelle Ng, and Burak Keçeli. The whitepaper was released on April 5, 2021.
Viven Kirby, an experienced enterprise resource planner, is Clover Finance's project manager. Norelle Ng has a previous background in human-computer interaction and is now working as an operations lead at Clover Finance. Similarly, Burak Keçeli is a well-known computer programmer working as Clover Finance's tech lead.
How to Stake CLV
Staking is the process of receiving rewards by holding certain cryptocurrencies. Cryptos that allow staking follow a consensus mechanism known as proof of stake, which is the way they ensure that all the transactions are verified and secured without an intermediary.
By staking CLV tokens, users can help secure the network. CLV tokens are also utilized to participate in the network consensus, platform rewards, transaction fees, and network governance via staking.
Users can choose from two ways to participate in the staking process and earn rewards. One way is to stake CLV tokens by running a validator node. And the other way is staking via a nominated validator. A validator node is essentially a node that verifies the information, ensures that it is correct, and then sends it on to other nodes. Nominators share the rewards gained by validators in the active set they nominated.
This way, users can participate in the network consensus. However, it is to be noted that staked tokens can be cut down if the validator node misbehaves.
The more tokens staked, the higher reward payouts generated.
How Many CLV Tokens Are There?
The total supply of CLV tokens is capped at 1 billion CLV.
How to Buy CLV Tokens
Clover Finance (CLV) is available Coinbase. Users can buy it from Coinbase.com as well as Coinbase app.
