Curve DAO Token (CRV/USDT – Trade it Here) is the ERC20 governance token of the Curve platform. Holders retain voting rights within the Curve DAO (decentralized autonomous organization) which oversees the operation and development of Curve. CRV is also provided as a reward to liquidity providers. In this article, we will discuss everything you need to know about Curve DAO plus a guide on how to buy CRV tokens.
Founders of Curve DAO Token (CRV)
Michael Egorov, a Russian scientist, and cryptocurrency expert, is the founder of the Curve DeFi protocol. He launched the CRV token in 2020, and it has become one of the popular asset pools for exchanging Bitcoin and stablecoins as well as ERC-20 tokens.
The experience of Michael Egorov in the blockchain and cryptocurrency domain is also evident in his role as co-founder of NuCypher. It is a fintech company with a specific focus on encryption and privacy-centric infrastructure and protocols.
What makes Curve DAO Token (CRV) unique?
The Curve DAO token is a relatively new project that has already achieved great success thanks to its utility. Curve DAO experienced serious growth in the second half of 2020, providing users with low slippage and low fees for exchanging similar stablecoins and ERC-20 tokens.
Curve DAO is unique, thanks to its technology and technical capacity, which makes Curve.fi an attractive exchange in the sector of DeFi. Instead of relying on order books, Curve forms liquidity pools based on smart contracts that work as an automated market maker. Users are connected with the best routes for their exchanges, while trading of tokens and stablecoins is conducted between traders and exchange protocols. Thanks to its technology and capacity to exchange tokens and stablecoins at the best rates, Curve has become synonymous with decentralized finance.
How does the Curve DAO Token (CRV) work?
The CRV token can be bought as well as earned through yield farming. When users deposit assets into a liquidity pool and earn tokens as a reward. By providing DAI to a designated Curve liquidity pool, users earn the CRV token on top of fees and interest. Yield farming the CRV token increases the incentives to become a Curve liquidity provider, as users not only gain a financial asset, but also ownership of a strong DeFi protocol.
Anyone with a minimum number of CRV tokens that are vote-locked is able to propose an update to the Curve protocol. Updates can include changing fees, changing where fees go, creating new liquidity pools, and adjusting yield farming rewards. Holders vote to reject or accept a proposal by locking up CRV tokens. The longer the CRV token is locked up, the more voting power it has.
Security of Curve DAO Token (CRV) Network
The most important aspect in an introduction to Curve DAO explained comprehensively would focus on its security. The DAO governance is an important part of ensuring the security of the DeFi protocol’s network. Most important of all, regular audits of smart contracts used for creating the liquidity pools can help in securing the network and tokens.
The Curve DAO token operates on the Ethereum network, thereby ensuring a visible transition towards Proof of Stake consensus in the future. Proof of Stake serves the benefits of better cost-effectiveness and energy efficiency in comparison to Proof of Work protocol. In addition, CRV tokens could also be staked alongside locked for voting in order to help holders engage in network governance.
Tokenomics with recent price & performance of Curve DAO Token (CRV)
The tokenomics of Curve DAO Token (CRV) :
- Name: Curve DAO Token.
- Ticker: CRV.
- Token standard: ERC-20.
- Token type: governance.
- Maximum supply: 3,303,030,299 CRV.
- Circulating Supply: 531,583,334 CRV.
CRV reached the highest price (ATH) of 6.50 USDT on April 1, 2022. The lowest price since the date of ATH was 0.58 USDT on June 19, 2022. The 30 days performance sees the highest price at 0.98 USDT on September 20, 2022 and lowest at 0.74 on October 13, 2022. At the time of writing, its’ performance is at 3.040 USDT with a market cap of $481,420,338 & fully diluted market cap of $2,991,825,735.
How to buy Curve DAO Token (CRV)?
You can buy Curve DAO Token (CRV) on MEXC by the following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “CRV” using the search bar to see the available trading pairs. Take CRV/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of CRV you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy CRV] to confirm your order. You will find the purchased CRV in your Spot Wallet.
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