Curve DAO TokenCRV
Curve DAO Token is the governance token of the Curve DEX.
- What is Curve DAO Token (CRV)?
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 Finance is an automated market maker protocol designed for swapping between stablecoins with low fees and slippage. It’s a decentralized liquidity aggregator where anyone can add their assets to several different liquidity pools and earn fees.
- How was Curve DAO Token Launched?
The anonymous developer, with the handle @0xc4ad, tweeted on August 13th 2020, from a newly created account that Curve’s DAO is “ready to rock.” The developer spent 19.9 ETH (~$8,000) in fees to deploy the contracts.
Since the contracts were deployed, some users started staking yCRV tokens, which represent shares of Curve’s liquidity pools, to earn CRV tokens. This led to accusations of “pre-mine” among the DeFi community.
Around 80,000 CRV tokens were reportedly “pre-mined” before the Curve team verified the deployed contracts. Curve was initially “skeptical,” but later found out that the deployment was with “correct code, data and admin keys.”
- Who are the Team Members behind Curve DAO Token?
Curve Finance was created by Russian physicist Michael Egorov.
The current Curve Finance team is based in Switzerland and consists of five people including Egorov. Of the remaining four, one is a developer and the other three are involved in social media and marketing.