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CurveDAO is an Ethereum-based automated market maker (AMM) that facilitates the exchange of stablecoins and other so-called “wrapped” DeFi tokens. (These are tokens that people receive in return for contributing their coins to other liquidity pools).
In essence, Curve offers interest-bearing products to token holders, who contribute their stablecoins and wrapped tokens to liquidity pools so that other users can exchange their coins.
Curve’s major innovation was allowing the direct exchange of one token for another, rather than having to go through an Ethereum-pairing, as was the case with Uniswap at the time. (This has been changed in Uniswap’s latest releases). However, Curve’s advantage remains the depth of its liquidity pools, allowing users to conduct large stablecoin transactions without slippage.
CRV is the governance token of the Curve DAO (decentralised autonomous organisation), allowing users to vote on changes to fee structures and the Curve protocol itself.
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