Curve Finance



Curve Finance

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    01 Jan 1970

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The Curve DAO Token (CRV) is the largest decentralized finance (DeFi) project. At the end of 2019, namely in November, the concept of the project itself was presented for the first time by Mikhail Egorov, who was a physicist by profession. At first the name of this platform was StableSwap, later renamed to Curve Finance. It was possible to capture the niche almost immediately, thanks to the high profitability of the project.

Egorov is far from new to cryptocurrency, his acquaintance with virtual assets took place at the peak of the popularity of the crypto, in 2013.  An interesting fact is that he was even engaged in mining Litecoins. In 2016, he founded the NuCypher company, which specialized in data encryption. As a result of the ICO, the platform was able to raise over $30 million, and sales to individuals added another $20 million to the total profit. But, alas, the coin with the ticker NU could not overcome the threshold of getting into the listings. 

After such a failure, Egorov did not stop and became interested in DeFi protocols. Selecting  a reliable decentralized exchange, Mikhail got acquainted with Uniswap, but its functionality failed to impress him, so he thought about developing a completely different platform. White paper was introduced to the world in 2019. And in January 2020, Egorov set up the coding and protocol for the entire project.

In May 2020, the company announced the release of governance tokens. Although it seemed that the settlement of legal issues related to the transition of the project to an autonomous decentralized organization could take more than one year, Mikhail Egorov managed this in a couple of months. And in August 2020, the CRV cryptocurrency was included in the listings of largest exchanges – Binance and Poloniex.

It would seem that the team of such a large and fuss-producing project as StableSwap should have several tens or even hundreds of employees, but this is not so. The company consists of only 5 people, including the founder of the project. The organization is based in Europe, Switzerland. Two people in the company are developing the project – this is Mikhail himself and 1 more developer, the rest of the team is hard at work on marketing and PR.

How to Use Curve Finance?

Unlike other AMMs, Curve Finance crypto project supports stablecoins  that are pegged to the US dollar or wBTC that tracks the value of Bitcoin. Due to these features of the coins, the propensity for market volatility is significantly lower, and the incidence of impermanent losses is also reduced. Token holders have the right to manage decisions that relate to the platform. 

The main characteristics of Curve Finance Crypto project:

A large range for earning, because the platform deals with numerous virtual assets.

The Curve liquidity system allows clients to provide liquidity using one or more than one token in the pool. 

With CRV you get a yield aggregator with which you can receive a commission from a financial transaction and an interest rate on loans.

The simple structure of the project, unobtrusive design and protocol are immediately visible to everyone who just enters the platform for the first time.

The developers initially planned everything so that the Curve DAO ecosystem could work with the most minimal requirements. And the launch of the system itself is possible on any device, the main thing is that there is access to the Internet.

The difference between the transaction price and the actual price that was given for the asset itself is called slippage. Curve DAO helps to solve this issue, because the platform is focused on assets pegged to fiat money.

The minimum commissions are possible due to the simplicity of the smart contracts mechanism, allowing you to sell CRV at fairly favorable rates. The completion of the exchange operation takes place through just one transaction.

The project allows the use of stablecoins, so anyone can easily trade DAI, USD Coin, Tether, TrueUSD, Binance USD, Pax Dollar and sUSD.

Curve DAO was created according to the ERC-20 algorithm. The project works on the Proof-of-Stake (PoS) consensus mechanism, which made it possible to stake. The protocol is looking for the closest possible exchange option within a decentralized exchange. Thus, you meet other users and make a transaction at the closest possible exchange rate between the specified stablecoins. 

What Is the CRV Token?

The main task of the CRV token is to stimulate liquidity pools providers. The initial supply volume was 1.3 billion CRV tokens. But once these tokens are distributed among liquidity providers, the figure should increase to 3.03 billion.

The cost of the Curve Finance crypto token is calculated not according to the order book, but based on  x*y=const. This is not a new method, as it is also used by Uniswap and SushiSwap.

Emission: the maximum number of Curve Finance crypto tokens is 3.03 billion; the release of the final token is scheduled for August 2026.

The entire amount of CRV tokens, like any other cryptocurrency, is always distributed among different groups of people. As for Curve DAO Token, the distribution looks like this:

62% – intended for providers of liquidity;
30%  – for holders of shares, the holding period of which is 2-4 years;
5% – community stock;
3%  – for the platform team.

It is possible to buy Curve DAO coins both for fiat money and for other cryptocurrencies that can be purchased on special decentralized exchanges. 

It is best to keep coins in specialized hardware crypto wallets, like Trezor or Ledger Nano X. If you are not interested in getting such wallets, then you can use the mobile application for such purposes. The main nuance when choosing is the support of the ERC-20 standard by the wallet. It is also important to remember that no matter how secure an online wallet is, there is still some chance that it can be hacked. Paper and hardware wallets are more secure as they exist offline.
What Is Curve Finance Avalanche?

In 2021, the Avalanche Foundation launched a $180 million fund that is being used to bring applications and assets from the DeFi sector to the network. The first phase of the program, called Avalanche Rush, was allocated $30 million in AVAX tokens. They have been involved in liquidity mining in several projects, including the Curve decentralized exchange.

Is Curve a Good Investment?

In quite a short time, the little-known Curve Finance protocol, as we can see, has become a very prominent protocol in the DeFi system on Ethereum. Despite the duplication of the contract at the start, which demonstrated the weak point of the source code, the token was listed in the biggest platforms and provoked great demand from users.

By the way, not only coin holders believe in the token, many analysts make very positive forecasts regarding the future cost of the growth of the Curve DAO Token rate.

According to the founder of the project, in September 2022, Curve Finance may create its own decentralized crvUSD stablecoin. Earlier, Egorov said that the choice would fall on an overcollateralized stablecoin – a type of decentralized stablecoin based on the DIMER overcollateralized model.

Curve Finance Team