What is Curve DAO Token?
Curve is an Ethereum-powered protocol for purchasing stablecoins. It exploits an AMM to handle liquidity. The protocol enables exchanging stablecoins with little slippage and low-cost fees. It exploits an algorithmic formula created especially for stablecoins and yielding fees. Curve went live in January 2020. In summer it saw notable progress. In August, the network brought out a decentralized autonomous organization (DAO), introducing CRV as its native token. It is a governance token with investment return calculating voting and value accrual mechanisms. The entire CRV supply is 3.03 B tokens, most of which (62%) are shared among liquidity contributors. The rest is distributed like this: 30% to stockholders, 3% to staff members, and 5% to a community store. The DAO uses Ethereum-powered dApp Aragon, which allows creating and managing decentralized organizations. Through Aragon, DAO connects various smart contracts for storing liquidity. In March 2020, Curve was audited by Trail of Bits. Among the exchanges allowing CRV swaps are Binance, Huobi Global, OKEx, and more.