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TRON DAO Ventures, the VC arm of TRON, has announced that it recently acquired $2 million worth of CRV tokens. This strategic alliance will allow Curve to simultaneously debut on the TRON and BTTC network. Meanwhile, TRON, a leading innovator in the DeFi space, will bring its most secure and advanced offerings to Curve.
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In a $2 million over-the-counter (OTC) transaction, Tron founder Justin Sun bought 5 million CRV tokens from Curve Finance founder Michael Egorov. The transaction was rumored to have taken place at a discount to the current price, somewhere in the region of $0.40 per token.
Curves mission and increasing performance in DeFi
Curve is a DEX that has established itself as a market leader thanks to its AMMs specifically designed for trading stablecoins. With the support of TRON and BTTC, Curve expects investor interest to surge and its users will witness a thriving DeFi environment in the cryptocurrency market.
In early August, TRON entered into a collaboration with Curve, adding a stUSDT pool to the trading platform. The integration of the stUSDT protocol into the TRON blockchain could potentially be revolutionary given the comparison to China’s Yu’E Bao, which was once the country’s largest money market fund.
While Curve supports well-known public blockchains such as Ethereum, Arbitrum, and Avalanche, it offers significant benefits in the form of reduced financial outlay and time inefficiencies. Therefore, TRON’s DeFi ecosystem will benefit from this partnership.
The number of people using Curve in the DeFi ecosystem is growing. For example, Aave, another major player in the DeFi space, received approval from its DAO when it voted to spend $2 million on Curve tokens last week. By using their tokens, Aave can vote on the decentralized trading platform Curve. This move gives Aave a say in how the platform’s token benefits are distributed and who gets to vote on important matters, such as where to place the new CRV rewards (e.g., liquidity pools).
This post was last modified on 17 August 2023 at 14:42 BST 14:42
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