Bitcoin

Curve Finance wants to promote euro-linked stablecoins on DeFi

The decentralized exchange of stable coins Curve Finance added the euro as a secondary currency option upon user request.

How do I know? display in a tweet on Sunday Curve now has a liquidity pool to switch between the Stasis Euro (EURS) stablecoin and a synthetic euro, SEUR, on the Synthetix derivatives platform.

Currently, The stable coin market is dominated by currencies pegged to the US dollar. This means that European and Asian users often have no choice but to devote their time to the US dollar, whether they like it or not.

Curve Finance wants to promote euro-linked stablecoins on DeFi
Curve Finance wants to promote euro-linked stablecoins on DeFi

Curve expects the new group to develop Euro markets on the platform, measure interest in more currency options on Ethereum, and ultimately be a step towards opening up Curve forex markets.

A governance proposal has been approved to enable Curve DAO Token, CRV, rewards for liquidity providers in the pool. However, this did not appear to have come into effect until the time of going to press.

The platform’s token and governance contract was implemented early in August by a community member.. After the developers had desperately checked that the contracts and parameters were legitimate, it was decided to adopt the implementation as the official version.

The following month, Curve was one of ten new members of Huobi’s Global DeFi Alliance.

According to the latest figures from Dune Analytics Curve is the fourth largest DEX by volume with around 10% of the total market share. The largest was Uniswap with almost 60%. Curve is an automated market maker that specializes in swaps between similar assets whose value is not expected to differ. Many curve groups offer multiple iterations of US dollar stablecoins on Ethereum, but the exchange also supports trading between different versions of packaged assets, including Bitcoin (BTC).

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