What is Curve DAO Token (CRV)?
CRV - the token that is part of Curve's decentralized autonomous organization, fully based on Ethereum.
- Curve is a decentralized exchange fully thought for stablecoins and trading CRV.
- It was launched in 2020 as DeFi, obtaining its major expansion that included the Curve DAO Token or CRV cryptocurrency.
- One of its key features is that it cannot be mined or unlocked, so most of the tokens available must be put into circulation by Curve, for later purchase.
Key metrics of Curve DAO Token (CRV)
|Ranking de Mercado||#88|
Cap de Mercado
What is Curve (CRV)?
Curve is a decentralized cryptocurrency exchange that specializes 100 percent in trading stablecoins which the company uses to generate liquidity for most of its orders.
The founder and CEO of Curve is Michael Engorov, with great experience in the crypto world as CTO of NuCypher, in 2015 and also for being founder of LoanCoin.
This ecosystem was launched in January 2020, with ideas more focused on decentralized finance (DeFi). From the second half of 2020, Curve had a significant growth, so it bet on growing its entire ecosystem and making it much more complete.
So much so that in August 2020, Curve launched its own Decentralized Autonomous Organization (DAO), based entirely on Ethereum in order to connect various smart contracts to substantially improve the platform's liquidity.
Curve began to appreciate in value and increase in popularity due to the fact that it was one of the few options that traded only stablecoins, which used them for liquidity. But it was also thanks to the launch of its own coin: CRV, something that brought profitability to the business and was used for governance and trading.
The Curve DAO Token (CRV)
When Curve launched its own DAO, it started listing its own native token: Curve DAO Token or CRV. It was launched in August 2020, and was intended as a means of administration, as well as being used to give incentive and fee payments. Shortly thereafter, CRV began to be used as long-term earning methods for all liquidity providers.
CRV's initial offering is 3.003 million tokens, of which 62% are distributed to liquidity providers. This caused its initial price to drop within a few months and even Michel Engorov accepted that he 'overreacted' by locking in a large amount of initial tokens.
One of the key features of CRV is that it does not allow for a mining process or a gradual unlocking of tokens, so the 750 million tokens earmarked for trading must be released according to votes by the Curve community.
It was until 2021 when most exchanges in the world started listing the CRV token in their applications. This cryptocurrency is independently exchangeable, so you will be able to trade with various cryptocurrency pairs, stablecoins and even fiat currencies.