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  • Writer's pictureSarah Dixon

Curve DAO gets $5M boost from Binance, eyes BNB chain expansion.


Curve DAO gets $5M boost from Binance, eyes BNB chain expansion.
Curve DAO gets $5M boost from Binance, eyes BNB chain expansion.

Binance Labs, the venture capital and incubation arm of Binance, has invested $5 million in Curve DAO Token (CRV) to support the decentralized finance (DeFi) sector. CRV is an Ethereum-based token that serves as the foundation of the Curve ecosystem. The Curve ecosystem has gained popularity as the largest stable swap and the second-largest decentralized exchange (DEX).


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Curve DAO gets $5M boost from Binance, eyes BNB chain expansion. Curve and Binance’s BNB Chain Forge Strategic Alliance

As part of the partnership, Curve will explore the deployment of its protocol on the BNB Chain, the thriving ecosystem powered by its native token, BNB. This strategic alignment aims to leverage the strengths of both platforms, further fueling the growth of DeFi on the BNB Chain. Curve DAO gets $5M boost from Binance, eyes BNB chain expansion.


Yi He, Co-Founder of Binance and Head of Binance Labs, expressed enthusiasm about the collaboration, stating:

Curve is the largest stableswap, and as a key protocol in DeFi, it has contributed to the steady growth of the space in 2023. Given the recent events that have impacted the protocol, Binance Labs has offered our full support to Curve through our investment and strategic collaboration. We view this cooperation as a starting point and look forward to working together to further propel the growth of the DeFi ecosystem.

Curve Founder, Michael Egorov, acknowledged the significance of the collaboration, stating:

BNB Chain has earned a significant presence in DeFi and is well-positioned to deploy Curve’s current and future products on its chain. We look forward to collaboratively fostering innovation and growth across the DeFi ecosystem.

According to Binance Labs’ announcement, Curve’s Automated Market Maker (AMM) platform has revolutionized liquidity provision in DeFi, offering hundreds of incentivized liquidity pools with low slippage and transaction fees.

With the support and strategic investment of Binance Labs, the protocol seems poised to accelerate its mission to transform DeFi by increasing liquidity, reducing transaction friction, and expanding its ecosystem.


Is Cross-Chain Interoperability The Key To Curve’s Success On BNB Chain?

Deploying Curve on the Binance Smart Chain (BSC) offers several advantages for both Curve and the BSC ecosystem. One of the primary benefits is improved scalability, as BSC provides a robust infrastructure for DeFi protocols like Curve with high throughput and low latency, enabling it to handle more transactions and accommodate growing user demand.


Furthermore, deploying on BSC allows Curve to leverage the network's capabilities and benefit from lower transaction fees, making it more cost-efficient for users interacting with Curve. This reduced cost enhances the overall affordability of using the Curve protocol.


BSC's cross-chain interoperability also enables seamless integration of assets and protocols from different blockchains, creating opportunities for Curve to collaborate with other projects and protocols within the BSC ecosystem. This exposure opens doors to potential partnerships, collaborations, and increased visibility among Binance users, further strengthening Curve's position in the market.


Overall, deploying the platform to BSC aligns with its goal of expanding its presence across multiple chains and reaching a broader user base. By leveraging the advantages of BSC, such as enhanced scalability, lower transaction fees, access to a large user base, cross-chain interoperability, and exposure to the Binance ecosystem, the protocol can contribute to the growth and development of the DeFi ecosystem.


CRV’s 1.7% uptrend in the last 24 hours on the 1-day chart. Source: CRVUSDT on TradingView.com
CRV’s 1.7% uptrend in the last 24 hours on the 1-day chart. Source: CRVUSDT on TradingView.com


Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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