Cryptocurrencies are gradually becoming an integral part of our lives. In the 13 years of the industry’s existence, the digital coin market has taken an enormous step forward. If in 2009, a few hundred “geeks” knew about the existence of Bitcoin, now it is an environment consisting of millions of people worldwide. At the bull market’s peak in 2021, the capitalization of the entire cryptocurrency market exceeded $2 trillion.
In this article, we will talk about the Curve finance project, which was released relatively recently but has already managed to capture the market niche.
What is CRV Token?
CRV crypto is a utility token that maintains the health of the Curve finance platform. The team picked the Ethereum network as the fundamental blockchain. The platform is a decentralized exchange for trading stablecoins. Curve charges low commissions and provides a high level of security and transaction speed.
Still, the Curve platform is different from regular exchanges. For example, it does not just connect the seller and the buyer but uses liquidity pools. Users who provide liquidity and lock their funds on the exchange are rewarded with a Curve dao token. It is important to understand that Curve is not a custodial platform and does not store user funds in its wallets. Smart contracts play a key role in all operations on the platform. That is, users are fully responsible for the safety of the funds. Even if the site is hacked, hackers cannot take possession of user tokens.
Liquidity pools also have layered security since they are based on external protocols such as yearn.finance, Compound, etc. That is, liquidity providers can independently choose the risk/profit ratio option.
Where to Buy CRV coin?
It is better to purchase coins on time-tested platforms. One of them is the WhiteBIT exchange. It is the first certified exchange in the European Union market. It has an intuitive interface, comprehensive functionality and a high level of security.