Curve fork Swerve crosses $380M in total value locked within 12 hours of launch
September 5, 2020, 9:55AM EDT
1 min read
Swerve, a new and unaudited decentralized finance protocol, has accumulated $380M in asset deposits within 12 hours of its launch.
Swerve is a fork of Curve, the popular stablecoin-to-stablecoin decentralized exchange. The protocol aims to be "100% community owned and governed," meaning that from day one, the protocol will allow users to begin generating SWRV tokens with their deposits with no allocation to early investors or team members.
"There's no fake-out deployment, no questionable pre-mining," Swerve's website reads, referring to Curve's forced launch by an anonymous developer in mid-August.
Swerve did not launch without issue, however. The protocol launched with a UI bug that prevented users from interacting with its contracts. That bug has since been addressed.
From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Mike Novogratz, the billionaire CEO of crypto investment manager Galaxy Digital, opined on the recent crisis in the Terra blockchain ecosystem, which saw the market collapse of both the LUNA token as well as the algorithmic stablecoin UST.