2023-08-11
Binance Labs, an investment arm of
Binance, will invest $5 million in Curve DAO Token (CRV). As a part of the
deal, Curve Finance needs to expand to BNB Chain. Curve is the world’s largest
decentralized exchange.
1. Voting
CRV holders can vote-lock their veCRV to vote on
various DAO proposals.
2. Staking
By stake (lock) CRV tokens, stakers will receive a
50% admin fee on all trading fees. These fees are collected and used to buy 3CRV, the LP token for
the TriPool, which are then distributed to veCRV holders.
3. Boosting
You can use CRV to boost up to 2.5x on the liquidity
your are providing on Curve Finance.
In Ye He's Head of Binance Labs point
of view. $5 million investment in CRV will offer a support for Curve Finance
which recently faced with $61 million exploit. This investment will also give
Binance an opportunity to cooperate with Curve Finance.
Currently Binance Labs’ portfolio worth
over $9 billion. It has already invested in more than 200 projects.
