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What is Curve (CRV)?
Curve is software that takes advantage of a multitude of cryptocurrencies in order to operate an automated market maker service specifically tailored towards stablecoins. Its trading platform is fully governed by a mathematical feature designed to let stablecoins trade for one another at the best price which is possible at any given time. This is called the bonding curve, and it is employed by DeFi cryptocurrencies. Curve's bonding curve is known due to the fact that it specializes in stablecoins, and it allows larger amounts of stablecoins to be traded with fewer changes in their relative prices as a result.
Who are the founders of Curve (CRV)?
Curve was founded by Michal Egorov who is a Russian scientist with experience in cryptocurrencies. In 2015, he co-founded and as such, became the CTO of a company known as NyCypher which specialized in building privacy infrastructure as well as protocol. He is also the founder of a decentralized bank and loans network called LoanCoin. Curve's white paper was published in November of 2019. In 2020, Curve had over $1 billion worth of cryptocurrencies locked on its platform. As of 2021, it has over $11.82 billion locked.
What makes Curve (CRV) unique?
Curve requires a group of users to lock up cryptocurrencies so that they can be traded by other users. These coins are then kept in specific ratios to one another, and as such, if the amounts fluctuate, they can become cheaper or more expensive. This leads to more traders actually end up buying them or selling them. Curve offers returns on these coins as a means to incentivize users to lock up their tokens, alongside a portion of the free form trades. This return is generated when Curve ends up supplying the locked funds to protocols such as Compound or yEarn, which lend the coins out to their users.