Hey PUBLISH0X community! Welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible
In this article we talk about more features of Curve DAO
In the last E&S article I introduced you Curve DAO Token (CRV) and I said that is a DeFi aggregator that allows individuals to attach their valuable assets to various liquidity pools and receive rewards. It is an AMM protocol used to exchange stablecoins at cheaper prices and slippage. The idea of ??Curve DAO Token is to provide a solution for the high cost of asset exchange in the Ethereum blockchain. It is now the third largest DeFi platform. This is because it has a large amount of lock-in value. The Curve DAO token has a token called CRV. It serves as a governance value. The token market value at the time of issuance is slightly higher than that of Bitcoin.
Today we will see more specifically:
- CRV Wallet
- Benefits of Curve
- Curve Staking
So, let's start discovering some new things about this interesting project!
CRV Wallet
CRV has storage capacity as an "ERC-20" token. People can use any wallet that supports "Ethereum-based" assets to protect it. CRV Wallet can be described as an online application or a physical device that provides crypto users with a personalized key to store their coins and tokens.
This wallet can be a soft wallet or a hard wallet, as described below.
- Software wallets: They are phone applications that use hot storage linked to the network to store investments. They provide a highway for storing various types of cryptocurrency investments. They can only store a small amount of cryptocurrency.
- Hardware wallets: They use USB-like devices and store tokens and coins offline. They are sometimes called cold storage. They are more expensive than software wallets and provide high security.
Examples of CRV crypto wallets are EXODUS wallet (mobile and desktop), Atomic wallet (mobile and desktop), LEDGER (hardware), TREZOR (hardware), and possibly Web 3.0 browser wallets (Metamask).
Benefits of Curve
- Simplicity: the first thing you notice is that the protocol is very simple in design and technical structure. Obviously, developers want their platform to run on any type of Internet-enabled device. You can easily browse the platform and find the important data of the pool needed to make investment decisions.
- Reduced slippage: slippage is the difference between your transaction price and the price you pay for the asset. This is the result of price changes between your order’s entry into the market and the execution of the transaction. Slippage was the main problem of early DEX. Curve alleviates these problems by focusing on assets directly linked to the national currency.
- : Curve's technical structure enables the platform to provide excellent exchange rates for stablecoins. The low cost is due to its simple smart contract design. Compared with UniSwap, traders pay an average of 30% lower fees when exchanging stablecoins on Curve.
- Multi-currency support: Curve continues to expand the capabilities of its network. The platform currently supports many of the top stablecoins available. Specifically, users can trade DAI, USDC, USDT, TUSD, BUSD, PAX and sUSD. The agreement also supports some mining pools linked to BTC through RenBTC, WBTC, sBTC and HBTC.
Curve Staking
If you've been following me for a long time, you'll already know that I'm a lover of staking. I have already done several articles about it that you can find in my profile. If instead you like more the video format, I leave you some links to some of my videos on YouTube where I talk about staking.
ALGO Staking
TRX Staking:
Users can stake their stablecoins on Curve and receive passive rewards. Curve users lock their tokens in a liquidity contract. You can add DAI or USDT to the Curve Pool to complete this task. It is worth noting that Curve offers multi-year staking contracts. The longer you stake and the more coins you lock, the higher your reward.
With this second article about Curve we have discovered new things about Curve DAO Token benefits, staking and CRV wallet!
Next week I’ll introduce you a new cryptocurrency!
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