Binance Labs, the venture capital and incubation arm of Binance, has made a $5M investment in Curve DAO Token (CRV), an Ethereum-based token that powers the Curve ecosystem. This investment underscores Binance Labs’ commitment to collaborating with Curve and shaping the future of the DeFi sector.
Binance Labs Invests 5M Dollars in Curve DAO Token (CRV) and Supports Curve Deployment to BNB Chain
The curve is the largest stableswap and second-largest DEX (decentralized exchange), with approximately $2.4B in total value locked (TVL) and $215M in daily volume at the time of writing. It is designed to allow users and other decentralized protocols to exchange ERC-20 tokens on its platform with low fees and low slippage. Curve DAO Token (CRV) is the utility token of the Curve DeFi protocol used for exchanging stablecoins and other ERC-20 tokens, along with staking, boosting, and voting for governance purposes.
Yi He, Co-Founder of Binance and Head of Binance Labs, commented: “Curve is the largest stableswap, and as a key protocol in DeFi it has contributed to the steady growth of the space in 2023. Given the recent events that have impacted the protocol, Binance Labs has offered our full support to Curve through our investment and strategic collaboration. We view this cooperation as a starting point and look forward to working together to further propel the growth of the DeFi ecosystem.”
Strategic Alignment for BNB Chain Support
Curve currently operates across several chains, offering the advantages of speed and cost. As part of the collaboration, Curve plans to deploy to BNB Chain. Curve serves as a foundational layer of DeFi, and the move will further propel the growth of the BNB Chain DeFi ecosystem.
“BNB Chain has earned a significant presence in DeFi and is well positioned to deploy Curve’s current and future products on its chain. We look forward to collaboratively fostering innovation and growth across the DeFi ecosystem,” said Michael Egorov, founder of Curve.
About Curve & Curve DAO Token (CRV)
Curve is DeFi’s leading Automated Market Maker, with hundreds of liquidity pools launched through Curve’s factory and incentivized by Curve’s DAO. Users rely on Curve’s innovative formulas to provide high liquidity, low slippage, and low-fee transactions between ERC-20 tokens.
Curve DAO Token (CRV) is the utility token of the Curve DeFi protocol used for exchanging stablecoins and ERC-20 tokens. Its main purposes are to incentivize liquidity providers on the Curve Finance platform and get as many users as possible involved in the governance of the protocol.
For more information, follow Curve on Twitter.
About Binance Labs
As the venture capital arm and accelerator of Binance, Binance Labs has now grown to be worth over $9 billion. Its portfolio covers 200 projects from over 25 countries across six continents and has a return on investment rate of over 10X. Fifty of Binance Labs’ portfolio companies are projects that have gone through our incubation programs. For more information, follow Binance Labs on Twitter.
Disclaimer: BNB Chain is a public, decentralized, and permissionless blockchain. We do not and cannot control activity and data on the BNB Chain or the activities that community participants or independent third-party projects may develop using BNB Chain.
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