To define what Curve Dao Token is, we need to understand what DeFi is because the two concepts are inextricably linked.
DeFi is a financial instrument in the form of services and applications built on a blockchain. Most of the existing DeFi is created on the Ethereum blockchain, and the number of new applications in decentralized finance is steadily growing. Curve Dao Token is one of them.
At the head of the creation of Curve Dao is a programmer from Russia, Mikhail Egorov. He started investing in cryptocurrencies back in 2013, which led him to work with DeFi. In his search for a good decentralized exchange, he came across Uniswap, a set of computer programs that run on the Ethereum blockchain and allow a decentralized token exchange. However, the functionality and capabilities of the platform did not impress the programmer, which prompted him to create a new project. The first notes on it were published by the end of 2019, and by January 2020, when he debugged the protocol and coding part of the platform and gave it the name Curve Finance.
So, to summarize, Curve DAO Token (CRV) is a token launched in August 2020 by DeFi project Curve. In just a few minutes, the Curve crypto price soared by thousands of percent and exceeded several tens of dollars. However, it almost immediately began to fall and now the Curve finance token price is not so high.
The basic parameters of the Curve cryptocurrency are as follows:
The simplicity of the algorithm.
Working in the Ethereum blockchain, the platform inherits some of its characteristics, including the speed of transactions. The throughput of the network is 14 transactions per second. Writing to the blockchain takes about 1 minute.
Mikhail Egorov is interested in the security of his project, so the network is often audited, and to date, there have been 5 official audits. The developers pay special attention to vulnerabilities. In the summer of 2020, Trail of Bits conducted a code audit, after which Quantstamp, a blockchain auditing platform, made a correction to the encryption rules.
In January 2021, the developers went even further - they launched a Bug bounty program. The creators pay money to anyone who discovers and reports critical vulnerabilities in the protocol. The amount of the reward depends on how dangerous the detected problem is and the quality of the report.
It is possible to become a coin holder by:
Buy them from a cryptocurrency exchange. The investor can choose a convenient platform to purchase the asset. The digital coin is presented on major crypto exchanges. In addition, like any other cryptocurrency, it can be bought and sold, using various tools for this purpose - such as trading script or bot trading, as well as a popular strategy of crypto copy trading.
Convert at an online exchange. There are a huge number of them, but there is always a risk of running into scammers, so you should choose with caution. In addition, the Curve Dao token price on exchangers is not as profitable as on the exchange.
Participate in the Bug bounty program. Your task is to find critical bugs and send information about them to the developers. The program only encourages vulnerabilities that have not been previously fixed.
The Curve platform - is a decentralized stablecoin exchange that uses an automated market maker (AMM) to manage liquidity. It is uniquely positioned to offer stable coin users rare features that are difficult to find on other platforms. And even if CRV coin price today is not that high, we can expect the project to continue to expand its activities and the quotes will rise.