Spotlight: Curve (CRV)
The latest project to be featured on Polylastic’s ‘Spotlight’ series is the hugely popular decentralized exchange, Curve (CRV). Curve’s main goal is to connect users who want to exchange ERC-20 tokens and stablecoins with exchange protocols.
What Is Curve DAO Token? (CRV)
The Curve Token is one of the most widely used Defi platforms. It utilizes an automated market maker to manage liquidity. AMM is a protocol that uses liquidity pools and allows digital assets to be traded automatically. Its unique liquidity pool is one of the core technologies present in the DeFi ecosystem. These pools are an essential part of various protocols, including AMM, blockchain gaming, borrow-lend protocols, and more. Curve 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 most competitive rates.
History of Curve (CRV)
Curve was introduced by a Russian scientist named Michael Egorov in 2020. The whitepaper was created in November 2019. Egorov has previous experience with various blockchains and cryptocurrency firms.
Egorov first learned about cryptocurrencies in late 2013. He 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. Built on this algorithm, Egorov founded Curve in early 2020.
Curve (CRV) and Stablecoins
Curve focuses on stablecoins, such as Dai and USDT. These are meant to track U.S. dollar prices. It also caters to stablecoins such as wBTC and renBTC that track bitcoin’s price. The protocol’s main view is on ensuring a certain amount of balance in the crypto markets.
Curve’s goal for stablecoin trading is to minimize fees and price variation. These generally occur due to the many options available on the market. Curve currently allows trading for stablecoins such as DAI, USDT, USDC, GUSD, TUSD, BUSD, UST, EURS, PAX, sUSD, USDN, USDP, RSV, and LINKUSD. Users can also trade ETH, LINK, and a few tokenized BTC assets such as wBTC or renBTC.
How Are New Curve DAO Tokens (CRV) Created?
Staking CRV 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 accessing 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.
What Makes Curve (CRV) Stand Out?
To best understand what Curve offers and whether the protocol may be of use to you, let us look at the protocol’s key features:
- Users are able to retrieve their assets from the platform at any time.
- Curve involves a smaller amount of risk as compared to other DeFi protocols. Furthermore, trading fees and slippage are lower because of Curve’s focus on stablecoins.
- Users are able to stake CRV. These deposits provide users with rewards and a chance to vote in the Curve DAO.
- The CRV tokens appear across the DeFi ecosystem. It makes Curve extremely convenient to use.
Where To Buy Curve? (CRV)
Curve can be purchased on an array of exchanges including Binance, Kucoin, Crypto.com, and Coinbase to name a few. It can also be purchased on many Decentralized Exchanges as well such as Uniswap, Sushiswap, Dexswap, and many more!
In Closing
Curves’ advanced technology and growing user base contribute to Curve being a leader in the space. The popular consensus is that Curve will continue to thrive and expand. This Defi platform is quite impressive and unique.
We hope that you enjoyed this edition of Polylastic’s “Spotlight” Series. We look forward to covering other exciting projects in future spotlights. Stay tuned!
