Curve DAO

Curve Finance is a decentralized exchange (DEX) that aims to enable low-slippage swaps between assets that trade at similar values, such as different dollar stablecoins or ETH and its derivatives. Having started on Ethereum, the protocol now has pools on many EVM networks. CRV is the governance and incentive token of Curve DAO and is issued on Ethereum.

Curve's pricing formula, called StableSwap, concentrates liquidity around the current price for assets with closely matched prices; there is also a separate pool design for volatile asset pairs. CRV is distributed to liquidity providers as a reward. By locking CRV for a set period, users obtain non-transferable veCRV; veCRV grants voting power, allows participation in the gauge votes that determine which pools receive more CRV rewards, and makes it possible to receive a share of protocol fees. Curve also operates the crvUSD stablecoin and the LlamaLend lending markets.

The CRV price can be influenced by trading volume and fee income in the pools, the share of CRV that is locked, the emission schedule, the behavior of vote-aggregating protocols such as Convex and smart contract security. The Curve DAO price on Lzzo.com is taken from CRV/USDT trading on Binance and converted into dollars at Coinbase Exchange's USDT/USD rate; the chart shows this dollar series.