What is Curve Finance?
The Curve DAO Token is the cryptocurrency of the Curve Finance DeFi project. Its purpose is management and involving users in governance voting. Curve is one of the main decentralised exchanges (DEXs) based on an Automated Market Maker and specialising in stablecoins. Its solution has several unique features: in addition to having liquidity pools with more than two tokens each, it is available on numerous blockchains and Layer 2 networks.
Why follow of Curve Finance?
The Curve system became known for its Automated Market Maker (AMM) technology, applied mainly to stablecoins but also to tokenised forms of bitcoin and Ether. However, the market maker uses very particular liquidity pools that do not contain the usual pair of tokens with the same liquidity proportions, but up to as many as five different tokens with percentages formulated ad hoc. The price curve maintained by the algorithm that regulates exchanges is unique and different from that of DEXs such as Uniswap. Its formula helps to optimise stablecoin trading by cushioning price slippage.
How was it created?
Curve’s liquidity pool exchange was the brainchild of Michael Egorov, a Russian academic with a degree in physics. A multitalented individual, Michael worked on quantum computer projects and then with encryption before moving on to DeFi. In 2003, he won the International Physics Olympiad with a thesis on ultra-cold atoms. He then transferred from academia to the corporate world, joining LinkedIn and building an ad hoc infrastructure for the company. Next, he moved on to the crypto industry with NuCypher, a decentralised project for big data security. Finally, he founded Curve in 2019. The DEX was launched in January 2020 and met with an enthusiastic response within months. Today, CRV is listed on the major international exchanges.
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