Curve
The Curve DAO officially launched in August 2020. The DAO will allow liquidity providers to take decisions on adding new pools, changing pool parameters, adding CRV incentives and many other aspects of the Curve protocol.
About
What is Curve?
Curve is a decentralized exchange (DEX) based on Ethereum and specializing in stablecoins.
The development of Curve began in September 2019, and it was rolled out on Ethereum Mainnet in late December of that year. The protocol was mainly developed by Michael Egorov, also a co-founder of NuCypher.
Similarly to Uniswap and Balancer, Curve operates on the concept of liquidity pools.
Thus, instead of directly trading tokens with each other, users trade against a smart contract. For example, a user who wants to convert 100 Dai to USDC sends their Dai to the Dai-USDC pool and takes a corresponding amount of USDC from the pool.
Curve basics
Just like all DEXes using the AMM model, Curve offers rewards to encourage users to deposit their funds to pools.
To that end, proceeds from swap fees charged by the platform (0.04%) are redistributed between all liquidity providers.
However, unlike some other AMMs, Curve deposits unused funds to the Compound interest-earning protocol. Thus, they generate interest, which is then redistributed between the platform’s liquidity providers.
Roadmap
The project kicked off with the issue of Michael Egorov’s StableSwap Whitepaper.
The platform was developed and launched.
The Curve DAO was officially launched.
Upon approval from Curve’s community, pools consisting of sEUR (Synthetic Euro) and EURs (Euro-Stasis) and AAVE were launched.
A fee claim system was integrated.
Curve’s team developed swaps enabling users to trade between different Curve assets if they share a pool with a synthetic asset (for example, sUSD, sEUR, sBTC and sETH).
A gauge factory was launched, allowing participants to create a gauge and a vote to receive CRV emissions.
Curve investors
