DeFi Altcoin Curve (CRV) Outpaces Crypto Market and Surges 30% This Week Amid Massive Inflation Rate Cut
A decentralized finance (DeFi) altcoin is outperforming the broader crypto market this week, sparking a 30% surge amid inflation rate cuts.
In a new blog post, DeFi protocol Curve Finance (CRV) says that for its fourth birthday, it is undergoing one of the most significant emissions reductions in its history, one that ends all emissions except those by the protocol’s community.
According to Curve, its halving, or when the protocol’s mining rewards are cut in half, is modeled after Bitcoin’s (BTC) but occurs at a different rate.
“Curve has enjoyed a handful of emissions decreases over its first three years, but this cut is more significant than most, dropping from around 20% to 6%…
The fourth birthday marked the end of all emissions except the ‘Community’ emissions. ‘Community’ emissions represent the CRV tokens streamed to Curve pools and other targets via gauges.
The ‘Community’ emissions schedule is scheduled to continue for centuries, with a rate of decrease modeled after the Bitcoin halving, except more continuous (occurring annually at a pace that puts it on track for a halving every four years).”
Curve notes that not only were emissions from outside the community ended, the community itself reduced its emissions as well, overall marking a consequential drop.
Earlier this week, top US-based crypto exchange Coinbase announced that it would be adding support for CRV as well as yearn.finance (YFI) and Synthetix (SYN).
CRV is trading for $0.323 at time of writing, a 5.5% increase during the last 24 hours. On August 11th, it was moving for $0.245.
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