Decrypt • Sep 07, 22
DeFi Protocol Curve Finance Posts Code for Upcoming Stablecoin
Yesterday, the developers of Curve Finance's upcoming overcollateralized stablecoin crvUSD uploaded its code onto GitHub.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of Curve DAO Token has risen by 30.69% in the past 7 days. The price increased by 0.53% in the last 24 hours. In just the past hour, the price shrunk by 0.32%. The current price is $0.70595 per CRV. Curve DAO Token is 98.83% below the all time high of $60.50.
The current circulating supply is 531,583,334.415 CRV.
Curve (CRV) is an Ethereum token that powers Curve.fi, a decentralized exchange and automated market maker protocol. The protocol is designed to make it easy to swap between ERC-20 tokens, such as stablecoins (like USDC and DAI) and Ethereum-based Bitcoin tokens (like WBTC and renBTC). In order to minimize impermanent loss, most of the protocol’s liquidity pools are made up of similar assets, although in June 2021, it introduced a USDT-WBTC-ETH “tricrypto” pool. The CRV token can be locked for various periods of time (up to 4 years) in order to vote on governance and claim protocol fees as a reward.
is one of the most widely used platforms that utilizes an automated market maker (AMM) to manage liquidity. AMM is a protocol that uses liquidity pools and allows digital assets to be traded automatically. is one of the core technologies present in the DeFi ecosystem. These pools form an essential part of various protocols, including AMM, gaming, borrow-lend protocols, and more. provides an efficient way to exchange tokens by maintaining low slippage rates. Consequently, the platform acts as a decentralized exchange by connecting users to trade with the finest rates.
The Curve protocol began its journey toward decentralized governance by introducing DAO, also known as decentralized autonomous organization. has been made by a group of developers to remove human errors and manipulation of investors by providing decision-making authority to an automated system and a crowdsourced process. The DAO, which runs on Ether, allows investors to send money anonymously from anywhere in the world. The majority of DAOs are managed by governance tokens, which grant voting rights to token holders. In the same way, Curve DAO is also governed by CRV tokens.
The unique feature about CRV is that it is a utility token of the protocol for exchanging and other tokens. Unlike other exchanges that match buyers and sellers, Curve.fi provides an exchange platform that works on different behavior and leverages liquidity pools. Thus, Curve creates liquidity pools based on smart contracts that function as an automated market maker, rather than relying on order books (electronic documentation of a currency’s buy and sell activities). Besides, holders have the right to suggest and vote on the changes to the platform.
Curve was introduced by a Russian scientist named Michael Egorov in 2020, and its whitepaper was launched in November 2019. Michael Egorov has previous experience with various blockchain and cryptocurrency firms. He also cofounded NuCypher and worked as a CTO of the company. Egorov is also the founder of LoanCoin, a decentralized bank and lending network.
Egorov learned about cryptocurrencies in late 2013 and later became a DeFi user, beginning with Maker in 2018. He started exploring liquid staking, which led to the development of an algorithm for constructing deep markets for assets with similar prices. Curve, which Michael founded in early 2020, was built on this algorithm.
of can be done in the Curve Finance DAO Locker, and there is no minimum requirement for the same. Users need to select the preferred lock-up period to stake their CRV after going to the Curve DAO Dashboard. Users are entitled to regularly claim their CRV rewards, which is a manual process. However, the transaction cost is applicable for each claim. If anyone wants to stake a large number of , it is advised to claim weekly in order to compound the rewards.
CRV has a maximum supply of 3,303,030,299 CRV coins.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
The price of 1 Curve DAO Token currently costs $0.71.
The current market cap of Curve DAO Token is $374.50M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Curve DAO Token is $60.50. This all-time high is highest price paid for Curve DAO Token since it was launched.
Over the last 24 hours, the trading volume of Curve DAO Token is $129.80M.
The current circulating supply of Curve DAO Token is 532 million.
The median time that Coinbase customers hold Curve DAO Token before selling it or sending it to another account or address is 24 days.
Curve DAO Token ranks 79 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 38% of Coinbase users are buying Curve DAO Token. In other words, 38% of Coinbase customers have increased their net position in Curve DAO Token over the past 24 hours through trading.
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