The successful deployment of the Curve’s governance token and DAO on Thursday has shown an enormous success in crypto collateral. The Curve crypto collateral reached $1 billion and with that, it secured a third place of the list of total value locked.
Just a few short hours after @AaveAave
— Andre Cronje (@AndreCronjeTech) August 16, 2020
Through this, it has been seen that the Curve is reaching new heights in the DeFi world. It is a liquidity pool which has been developed on Ethereum and for better and efficient trading of stablecoins.
DAI is most popular stablecoin on Curve
At present, DAI is one of the most popular stablecoin on the Curve platform. This is because it is having around 78 million smart contracts locked in. Within only one week of listing, DAI has increased its amount by 730%, and currently, it represents 18.5% of the total supply.
It has been seen that this momentum has come due to the action taken by the yield farmers. Back on Thursday, several thousand dollars have been spent in gas. This amount was invested to deploy all the smart contracts of Curve. The firm has mentioned that they were quite skeptical about the deployment but it was received very well.
Government voting is yet to be enabled
In the complete deployment process, it has been seen that Curve has also published a complete guide related to CRV token. Currently, the firm has not enabled the government voting option which will be there to prevent all kinds of malicious activities. It has been assumed now that the type of momentum that is going on currently might also bring other platforms as well. Expectations are high that more firms will be coming towards this hottest crypto sector in the next few weeks. Just like Curve, a lot of firms might be skeptical about it but the firm has also emerged as encouraging one for others.