'Inside the Curve Wars: DeFi Bribes' defi tokenbribe
How DeFi Bribes are Funding the Curve.fi Warsand should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions
Curve Finance is a leading DeFi protocol for trading stablecoins on Ethereum. Operating according to a different algorithm to other Automated Market Makers such as uniswap and Sushiswap, Curve offers much lower trading fees and slippage, with no impermanent loss due to only dealing with stablecoins. Curve is essentially decentralized forex for low-cost currency conversion and an integral building block in the DeFi world.
With currently 1/3 of Curve rewards being distributed to Magic Internet Money token pools, the supporting protocol Abracadabra has been dramatically successful in developing its ecosystem. The protocol allows users to deposit any interest-bearing crypto asset for its MIM stablecoin. To retain the stablecoin’s peg and amidst large volumes of buying and selling, MIM relies on the support provided by liquidity providers on Curve.
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