diff --git a/defi_and_trading/stablecoins/Curve.md b/defi_and_trading/stablecoins/Curve.md index 2146f24..4c9abc9 100644 --- a/defi_and_trading/stablecoins/Curve.md +++ b/defi_and_trading/stablecoins/Curve.md @@ -1,7 +1,11 @@ -## Curve +## curve + +
### tl; dr +
+ * Curve, whose unique feature is the low slippage in swapping, is a decentralised exchange (DEX) for stablecoins to swap pairs like USDT/UST or USDC/BUSD.  * CRV is the native token, whose main utility is governance. * People need to lock CRV to get veCRV to vote on decisions. The most important one is voting on allocation of rewards. @@ -14,12 +18,15 @@ ### curve liquid wrappers war +
+ * veToken model allows users to lock CRV for up 4 years, receive admin fees (paid in stables), and allows them to vote for CRV emissions for the pool. * protocols seeking liquidity have the option to bribe ve CRV holders to stream CRV emissions to their pools (nother source of revenue besides admin fees). * since locking CRV for 4 years is not very attractive for holders, introduce liquid wrappers: cvxCRV, sdCRV, yCRV. * liquid wrappers allow CRV holders to receive fees and/or bribes without locking it for 4 years and provide a chance to exit the position. * trade-offs for liquid wrappers are: protocol fees, peg maintenance, and voting power. + ##### cvxCRV * by stacking cvxCRV, holders earn 3crv fees plus a share of 10% of the Convex LPs' boosted CRV earnings, plus CVX tokens. @@ -65,5 +72,7 @@ ### resources +
+ * [10M Revenue Drain in 5 Months: MEV impact on Curve](https://medium.com/@eigenphi/10m-revenue-drain-in-5-months-mev-impact-on-curve-fd5214a0667) * [Curve Stablecoin Paper](https://github.com/curvefi/curve-stablecoin/blob/master/doc/curve-stablecoin.pdf)