Released into the market on August 14, 2020, the Curve DAO Token (CRV) is a token with time-weighted voting and value appreciation mechanisms on the Curve platform.
What is Curve Coin?
Curve is a decentralized exchange liquidity pool on the Ethereum Blockchain that enables low-cost and efficient trading of stablecoins.
With DAO control and fee burning, CRV can be locked to increase CRV rewards provided on the liquidity on Curve Finance. According to statements, the maximum multiplier accessible through vote locking is set at 2.5, and there are several points to consider regarding how much CRV needs to be locked to achieve maximum support.
The platform’s indicators calculate the weight of earnings and users can lock their CRVs to increase the reward rate up to 2.5 times.
In simpler terms, CRV must be locked to vote on the platform, and the longer and more substantial the locking, the higher the amount of CRV earned.
Additionally, it should be noted that CRV was actually launched earlier than planned, through the initiative of an anonymous community member. The DAO and governance token CRV of the decentralized finance (DeFi) project Curve was launched ahead of schedule due to an anonymous developer distributing the contracts without the official team’s knowledge.
Following this news, the official team confirmed the situation about 7 hours later and announced that the launch was official. According to the team’s statements, the distribution was carried out with the correct code, correct data, and correct administrative keys.
What is CRV Coin?
As initially mentioned, CRV is a token on the Curve platform with time-weighted voting and value appreciation mechanisms. According to CoinMarketCap data, the still very new token has a market value of 1,757,572 USD and ranks 964th in terms of Curve token market volume.
When examining CRV coin charts, it’s worth noting that the cryptocurrency took its place in the market with a rapid decline. On its release date of August 14, 2020, CRV coin hit a record of $60.50, while it is currently trading at $3.53 as of the time this article was prepared.
Furthermore, according to the platform’s statements, 3.03 billion CRV coins will be distributed with 62% to liquidity providers, 30% to shareholders, 3% to employees with a two-year entitlement, and 5% to community reserves. According to CoinMarketCap data, there are currently 498,241 CRV in circulation.
Review of Curve Coin
The sensational initial release of the Curve token negatively impacted CRV coin reviews at first. This negativity was also reflected in the prices. However, the fact that the CRV token is a DeFi token and the current rise of the DeFi ecosystem suggests it may recover.
Additionally, the listing of the CRV coin on Binance is believed to potentially have a positive impact on the price in the coming days.
How to Purchase Curve Coin?
You can safely and quickly purchase Cureve Coin from Binance, the world’s cryptocurrency exchange with the highest trading volume.
