Swiss Stake Seeks 21M CRV Grant for Research and Development
The post Swiss Stake Seeks 21M CRV Grant for Research and Development appeared on BitcoinEthereumNews.com.
Curve Finance Founder Michael Egorov publishes a proposal for Swiss Stake AG’s funding program. Swiss Stake seeks a grant of 21 million CRV tokens worth about $6.37 million. The fund will be used for software research and development activities. Recently, Curve Finance’s founder Michael Egorov released a proposal on the official governance site seeking funds for Swiss Stake AG, Curve’s development company. While the community fund currently holds around 47,545,144 CRV tokens, Swiss Stake AG seeks support from the token holders to receive a grant of 21 million CRV, worth about $6.37 million. Notably, the platform intends to use the grant exclusively for programs that significantly benefit the Curve ecosystem, including software research and development work. As of now, the company has employed more than 25 individuals or entities to be involved in research and developmental activities. As per the proposal, the grant would last for one year, and the remaining funds would be invested in similar activities in the next year. Without Curve’s consent, the fund is strictly prohibited from being utilized for any other purposes. In addition, it is mandated that even a smaller portion of the fund be returned to Curve DAO if it cannot be used as per the project’s directions. Last week, Egorov shared an X post shedding light on his commitment to “building Curve more than ever.” He posited that he is motivated by the vote-escrow (ve) CRV tokens to work towards the platform’s development through game theory incentives. In case anyone is wondering, I am committed to building Curve more than ever, thanks to game-theoretical implications of veTokenomics (mostly have veCRV now). Following are the focuses: – Apply observations to make sure that lending/borrowing products are the safest in industry… — Michael Egorov (@newmichwill) June 14, 2024 Meanwhile, the official X account of…
Filed under: News - @ August 20, 2024 6:21 am