Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Curve DAO votes on 10% crvUSD fee allocation proposal

Curve DAO votes on 10% crvUSD fee allocation proposal

GrafaGrafa2024/11/05 14:00
By:Liezl Gambe

Curve DAO (CRYPTO:CRV) members are voting on a new proposal to allocate 10% of crvUSD loan fees toward crvUSD savings, aiming to strengthen the stablecoin’s ecosystem.

Curve founder Michael Egorov explained that this proposal, now in its confirmation phase, is designed to support crvUSD’s growth, which currently has a market value of $60 million.

The proposal has gained majority support, with the vote set to conclude on Friday.

According to Egorov, the initiative would lower borrowing costs for crvUSD, increase its supply, and potentially enhance revenue for governance members in the long term.

However, realising such benefits immediately might be challenging.

So far, eight voting addresses representing around 10 million tokens, or roughly 30% of Curve’s voting power, have participated.

Community responses have been mixed.

A supporter with the handle Crv.Mktcap raised concerns that the proposal may negatively affect Curve’s governance token (CRV) and locked token holders in the short term.

They noted that if the proposal is implemented, “andCRV investors will have to forgo some of their income to finance the savings rate.”

Yet, advocates argue that expanding the stablecoin supply would ultimately bring more revenue to andCRV investors over time.

Curve, a decentralised exchange focused on stablecoin swaps, currently holds $1.7 billion in total locked value, ranking as the 15th largest DeFi protocol according to DefiLlama.

At the time of reporting, the Curve DAO Token (CRV) price was $0.2268.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Web3 ai Could Lead 2025’s Best Cryptos With 1,747% ROI, Outshining Toncoin & Chainlink’s Performance

Toncoin (TON) and Chainlink (LINK) show strong market positions, but Web3 ai’s AI-driven platform and sub-$0.001 price point may offer greater potential for exponential growth.Toncoin (TON): Leveraging Telegram’s Ecosystem for GrowthChainlink (LINK): Technical Indicators Point to Potential BreakoutWeb3 ai: Affordable Entry with AI-Driven Security ToolsClosing Thought

Coinomedia2025/05/24 23:40
Web3 ai Could Lead 2025’s Best Cryptos With 1,747% ROI, Outshining Toncoin & Chainlink’s Performance

Ethereum Set to Soar Past $4,000 Again

Ethereum eyes a comeback above $4,000 with a projected 55% surge amid rising market optimism.What’s Driving the Ethereum Rally?Could Ethereum Break Past Its All-Time High?

Coinomedia2025/05/24 23:40
Ethereum Set to Soar Past $4,000 Again

Lark Davis: Best Time to Make Money in Crypto

Crypto analyst Lark Davis says this is the best time to make money in crypto. Here’s why you should pay attention now.Why This Window Matters So MuchHow to Lock In for Maximum Gains

Coinomedia2025/05/24 23:40
Lark Davis: Best Time to Make Money in Crypto

Top Rated Cryptos to Buy in 2025: BlockDAG, Tron, Polygon, and Polkadot Line Up Ahead of Q3 Shift

Explore the top rated cryptos to buy in 2025, featuring BlockDAG’s limited-time 'Double Your BDAG' offer, and why Tron, Polygon, and Polkadot are gaining strong attention this year1. BlockDAG (BDAG)2. Tron (TRX)3. Polygon (MATIC)4. Polkadot (DOT)Closing View on Key 2025 Contenders

Coinomedia2025/05/24 23:40
Top Rated Cryptos to Buy in 2025: BlockDAG, Tron, Polygon, and Polkadot Line Up Ahead of Q3 Shift