Swerve Finance Announces To Launch Curve Finance’s Community-Owned Fork

Jyoti  |  Sep 6, 2020

Swerve Finance would soon be launching a fork of Curve Finance, which will be completely owned by the community, according to an announcement on September 04.

As per the notification released by Swerve Finance, the newly-introduced forked protocol would be different from the popular stablecoin exchange platform, as it will not have any issues.

More Mature Swerve 

As per the reports, many of the yield farmers in the environment have become part of scam and rug pulls, in recent times. They have been using vague food-themed ventures for depositing a huge amount of money. But on the other hand, Swerve Finance developers believe that Swerve would be a more mature turn for the development of the open-source DeFi.

DeFi Pulse, in its report, has mentioned that since the day of its launch, Curve Finance has locked the value of more than $1 billion in user. Currently, it is considered to be the second-most popular decentralized exchange, after Uniswap, in the market. 

The report further mentions that the locked value of Curve Finance is twice the locked value of Balancer and that is the reason it falls behind Curve.

Curve Finance Allows Trading Of Stablecoin

According to the report, consumers on the Curve platform are allowed to trade between DAI and Tether. It is to be noted that at the time of trading stablecoins the liquidity offered by the users is used efficiently so that the consumers do not lose large marginal profit.

But recently, it has been found that there were multiple negative incidents for which Curve fell and along with it, its whole user base and a crypto larger community suffered. 

The very recent negative incident happened in August 2020, when its token was released without any information. 

Earlier, Curve mentioned that it would be releasing a notification before issuing the CRV governance token, but recently an anonymous user introduced it and that too without giving any warning. He just used an open-source code to do so.

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