Curve DAO Token (CRV)
- Category: Polygon Ecosystem
- Coin Launched: January, 2020
- Resources: White Paper
- Official Website: Curve DAO Token
- Reddit: Curve DAO Token
About Curve DAO Token
CRV is the governance token for Curve Finance. It implemented a complex time-based staking system to exchange CRV into veCRV, where veCRV is an internal token intended for governance purpose and has a right to claim the cash flows generated by the protocol
CURVE DAO History / Information / Buying / Staking
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CURVE DAO HISTORY
Curve DAO was founded and launched in 2020 and is one of the latest projects in the sector of decentralized finance. The Curve DAO Token was developed and created by Michael Egorov, a Russian scientist. Michael Egorov has experience with blockchain and cryptocurrency companies, as he co-founded NuCypher and served as its CTO. NuCypher is focused on building privacy-oriented protocols and infrastructure.
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HOW CURVE DAO WORKS
Curve is a decentralized exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity. Curve has gained considerable attention by following its remit as an AMM specifically for stablecoin trading. The launch of the DAO and CRV token brought in further profitability, given CRV’s use for governance, as it is awarded to users based on liquidity commitment and length of ownership.
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BENEFITS OF USING CURVE DAO
Some of the benefits of using Curve Dao are:
INVESTMENT
Curve DAO tokens have a tremendous potential to grow in the coming years. Despite being low-cost for some time, it has caught up to the market. The bullish cryptocurrency has risen to 9.7%, with a value of $3.18 on February 15th, 2022. Experts are even giving the token a low-risk tank, making it a good investment opportunity.
IMPERMANENT LOSS
Curve mitigates the risk of impermanent losses due to its transactions via stablecoins. The protocol only hosts similar asset pools. That means only USDC-DAI-USDT liquidity is available on Curve.
INTERNATIONAL TRANSFERS
You can easily transfer Curve DAO tokens among families and friends. What makes them unique is the ease in transferring them across the world. All you need to do is create a web 3.0 Ethereum wallet, and you’re good to go.
VOTING
In order to successfully conduct a quorum voting, a certain number of voters need to participate for an order to pass. Curve is one of the projects which include this practice. With a battle-tested governance mechanism -
CAN YOU STAKE CURVE DAO
CRV can be staked for any timeframe between 7 days and 4 years directly on Curve Finance. The effective APY is generated by the fees collected from the protocol, which come from trading 50% of all trading fees on Curve as well as any other fees. Thus a higher trading volume on Curve results in higher APY for stakers.
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