Just minutes ago, the team behind Ethereum DeFi’s Curve Finance protocol made a massive announcement: developers are rolling out the native governance token, CRV. In the project’s Telegram channel, the pinned announcement reads:
“The Curve team is proud to announce that Curve Finance native token CRV has officially launched. CRV will reward liquidity providers in Curve pools.”
The launch of the Ethereum-based token is already controversial as the contracts for the cryptocurrency were technically deployed many hours ago. During this period between the public announcement of the token and the deploying of the smart contracts, those with knowledge of Solidity, Ethereum’s smart contracting language, could farm CRV without much competition.
Admins of the project do not see this as a large problem because only two~three hours worth of CRV were issued over this period.
The Ethereum community has had quite a reaction to the launch of CRV, depositing millions of dollars worth of stablecoins into the protocol. The price of CRV is currently $28, according to Uniswap.
Curve Listed on Binance
It was just revealed that Binance will be listing Curve, even though it was just launched hours ago as of this article’s writing. This likely sets a record for the shortest time from cryptocurrency launch to a listing on such a reputable exchange.
CRV’s price is reacting as a result of this news, rallying to around $35 per pop. The asset now has a fully diluted market capitalization of $100 billion, around half that of Bitcoin.
Featured Image from Shutterstock Price tags: crvusd, crvbtc, ethusd, ethbtc Charts from TradingView.com One of Ethereum's Top DeFi Protocols Curve Finally Launches Native Token, CRV