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Curve DAO Token CRV

Curve DAO Token header image

1. Summary

Fundamental Rank
99
Developer Rank
92
Social Rank
97
Coinrank
97
Description

Curve can be defined as software that uses a multitude of cryptocurrencies in order to operate an automated market-making service that is focused on stablecoins.

It is built on Ethereum and is a decentralized finance (DeFi) protocol that facilitates the process of trading without using a central order book, and instea...

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Curve can be defined as software that uses a multitude of cryptocurrencies in order to operate an automated market-making service that is focused on stablecoins.

It is built on Ethereum and is a decentralized finance (DeFi) protocol that facilitates the process of trading without using a central order book, and instead uses pools of cryptocurrencies that are provided by the users who can earn fees throughout their deposit.

As such, Curve gives cryptocurrency users a way to earn fees on their assets while also letting traders buy as well as sell those assets at better prices.

The main way Curve DAO differentiates itself is in the way that it focuses on the stablecoin markets. Stablecoins are meant to track the price of U.S. dollars, while others are made to track the price of Bitcoin, in any case, Curve handles both. The main goal of Curve is to allow stablecoins to be traded with low fees and almost zero variation in their price.

The CRV Token Explained

The CRV token is used to vote on decisions governing the platform. It is an essential part for users that want to ensure that Curve is properly managed. Anyone that owns CRV tokens can vote on proposals that can impact the platform as a whole alongside all of its users. Those who have held CRV tokens for the longest period of time have a higher say when it comes to voting.

They can also determine which type of locked assets can be promoted, how the users who lock their coins on the platform get rewarded as well as if CRV tokens need to be eliminated from the economy.

The main appeal of this token is for people who have a genuine belief that stablecoins will continue to grow and diversify when it comes to their usage.

Features of Curve DAO Token

Discussing the features of Curve, the trading platform is actually governed by a mathematical feature that lets stablecoins trade for one another at the best possible price and is called the bonding curve.

The bonding curves are employed by other DeFi cryptocurrencies as well, but Curve’s is only focused on stablecoins as previously discussed.

Then you have lending pools that require a group of users to lock up their assets so that they can be traded by others. Curve keeps the coins throughout specific ratios to one another and this means that as their amounts fluctuate, they become cheaper or more expensive.

So why should users lock up their assets? Well, to incentivize this, Curve offers them a return on their coins as well as a proportion of the fee from trades. This return is actually generated when Curve supplies the locked funds to protocols that lend the coins out to users.

In terms of Governance, in 2020 3 billion CRV tokens were generated when the platform issued its native token. 60% of these were allocated to the users who locked their coins on the platform, and 30% were reserved to the Curve team as well as investors. The remainder? Well, that is set aside for employees and for a reserve for community initiatives.

Founders of Curve DAO Token (CRV)

Discussing the founders, Curve was founded by Michael Egorov, who is a Russian scientist. In 2015, he also co-founded and became the CTO of NuCypher, which is a cryptocurrency business that builds privacy-oriented infrastructures and protocols. Alongside this, he is also the founder of a decentralized bank known as LoanCoin.

2. Price

$CRV / USD

2.1. Market Performance

How does Curve DAO Token's (CRV) performance compare to assets of a similar market capitalization?

30 Day Return

14%

CRV

-10%

Similar Market Cap

60 Day Return

-42%

CRV

-39%

Similar Market Cap

3. Developer Activity

We're monitoring 29 Github repos for the Curve DAO Token project.

Commits vs. The Market

  • Past 4 weeks: 180 commits vs. an average of 58
  • Past 12 weeks: 541 commits vs. an average of 244
  • Past year: 2,624 commits vs. an average of 1,512

Top Repos by Code Commits

Past week 87
Past 12 weeks 143
Past year 647
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Past week 0
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Past 12 weeks 12
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Past week 0
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Past year 41
Past week 0
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Past year 40
4. Social Activity
Reddit Subscribers (Unknown subreddit) 0
Active Reddit Users 0
Telegram Users 13,615
Twitter followers 135,548
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