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What is Curve?
Curve DAO with its CRV token is a decentralized autonomous organization which works as a liquidity aggregator for stablecoins. It helps to exchange stablecoins and gain fees in return. Besides, as the platform operates with only stablecoin exchanges, there are little risks conjugated. Stablecoins are coins of the least slippage and are not prone to significant price changes. The platform is created on the Ethereum blockchain. It utilizes the Aragon tool which connects different smart contracts into a united ecosystem. CRV is the native utility token of the Curve DAO. The platform is monetized by charging percent of the transaction fees.
Where did Curve come from?
The CRV token and the Curve platforms were founded by Michael Egorov. He has significant experience in cryptocurrency development. His interest in it started with the investments in Bitcoin, later in 2018 he started working with DeFi, and in January 2020 he founded Curve DAO token. Michael says that he deliberately created the Curve DAO for stablecoins on the Ethereum blockchain, as he sees great potential in this area.
What are the advantages of Curve?
- Simplicity
Both in terms of design and user experience Curve DAO is very simple to understand. It makes it much more attractive for customers. - Transaction fees
Quite low fees are charged for the CRV transactions. Furthermore, these fees are later used for the system’s development. - Staking
The CRV token can be staked and used as a tool for passive income. The longer you stake, and the more tokens you lock - the higher revenues you get.
What are the disadvantages of Curve?
- High competition
The CRV is a token of the DeFi sector. If in the following years the interest in DeFi happens to come down (as there are new technologies embracing the market), this may lead to the CRV price cutback.
How to buy Curve on SimpleSwap?
If you are thinking of becoming a CRV holder, you are welcome to go to the SimpleSwap service and follow these steps:
- Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
- Select CRV in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
- Click the Exchange button.
- Enter the Recipient's Address. CRV will be sent to this address. Be careful and make sure you use the correct address.
- Create the exchange.
- You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.
