Decentralized exchange (DEX), DeFi’s third-largest protocol, with $6 billion locked in smart contracts Curve Finance (CRV), has concluded a management vote that allows any project to add altcoin rewards to its in-house indicators.
Third Parties Can Now Easier Pool Altcoins On DeFi Platform Curve Finance
This means that projects that want to support Curve liquidity pools with their native tokens can now do so directly with Curve instead of forcing users to stake their liquidity provider (LP) tokens via another website to earn rewards.
Until now cryptocurrency projects required approval from Curve management, which is managed by and CRV holders, to add their tokens to the tokens as rewards.
Users Curve’s local CRV their altcoins by locking and will be able to obtain CRV.
Generally speaking, this bill will save projects time, as skeller0r, a member of the Curve team, wrote on the protocol’s administration forum.
Projects either had to go through administration for rewards, which could be a lengthy process, or they had to write their own staking contracts to add rewards separately.
A custom staking contract also required users to take the extra step of staking their LP tokens elsewhere.
Indicators are reward mechanisms that allow a pool to receive rewards from Curve’s native altcoin, CRV, as well as other projects from tokens. The allocation of CRV among the various indicators was determined by a weekly vote by the and CRV holders.
A platform pool is a user-created token pool. According to Curve’s documentation, creating a platform pool and indicator is not subject to permission, but a management vote is still required to make the indicator eligible for a share of CRV rewards. This has changed with the last update.
*Not investment advice.
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