The native token of the decentralized, community-owned and -operated fork Swerve (SWRV).
It is an Ethereum-based fair released liquidity pool optimized for low-risk stablecoin trading with a fee structure that provides liquidity providers with additional revenue.
Related articles
If a holder helps Swerve out with funds, they will be rewarded with ySWRV tokens that may be staked in the Swerve DAO for $SWRV.
DeFi Swap now has $SWRV for trading. Users can stake CRO to increase their return by as much as 20 times, trade $SWRV, and become $SWRV Liquidity Providers to earn fees.
What Is Swerve (SWRV)?
Originally developed as a fork of Curve, Swerve is a decentralized pool for exchanging liquidity.
Its primary purpose, like Curve’s, is to serve as a stablecoin pool. Dai (DAI), USD Coin (USDC), Tether (USDT), and TrueUSD (TUSD) were all pooled together at launch (TUSD).
Project leaders said in December that they had secured roughly $1 billion for the pool.
SWRV, an Ethereum-issued ERC-20 token, is used by Swerve, a decentralized autonomous organization, for both governance and the incentive of liquidity providers.
On September 3, 2020, the project was announced and began the next day.
Who Are the Founders of Swerve?
Swerve was created by an anonymous programmer working under the alias “John Deere” as a side project.
He responded to a question about himself in a “ask me anything” session by saying, “I’m just a humble farmer who enjoys sane token distributions.” According to his bio, he also has a background in coding and cryptography.
John Deere may have created it, but he recognizes the contributions of others to its development and operation.
He is now steering the project’s development during its early stages, but eventually plans to hand it off to the locals.
In October of 2020, the leadership of Swerve decided to bring “FairlyRarePepe” on as a developer.
What Makes Swerve Unique?
The aim of launching Swerve was to provide a community-oriented alternate to the popular Curve.
The creator of Swerve has been quite vocal in his criticism of Curve, arguing that the platform is not fairly controlled and that its creator has too much influence.
According to Swerve’s founder, the platform provides superior swap pricing and higher yearly percentage yields on stablecoins compared to its competitors.
By locking up SWRV, liquidity providers can earn a larger APY on Swerve than those who don’t “boost,” a reward gaming method used by Swerve. The pace at which one’s APY is increased depends on a variety of criteria, including the total amount locked and the quantity of tokens the user has purchased.
Fees for trading on the platform total 0.03%, of which 50% is distributed to liquidity providers and 50% is kept as an administrative charge and deposited into the Swerve treasury (up to a maximum of $200k).
Its board of directors approved taking a grant in October of 2020 to expand the Serum blockchain-based platform for decentralized financial transactions (SRM).
John Deer, the project’s founder, said in October 2020 that expanding the platform’s volume and creating more compelling reasons to hold SWRV were top priorities.
What is Swerve DAO Token
Swerve’s native token, SWRV, is distributed freely to the community without any reserve for the project’s creators.
There is a maximum quantity of 33,000,000 SWRV tokens, all of which are distributed annually to liquidity providers.
Yet only two weeks after takeoff did the first nine million SWRVs go out into the wild.
As of the end of the first year, liquidity providers will have been issued a total of 9 million SWRV tokens.
Thereafter, the remaining 15,000,000 tokens will be released annually, at a rate of 3,000,000 tokens, over the course of five years.
Swerve ($SWRV) is a completely community-owned and -operated fork of Curve Finance ($CRV).
The desire for easy, decentralized access to conventional financial services inspired the development of decentralized finance (DeFi) projects.
Governance, pre-mining, and the set allotment of coins to platform founders and stockholders are some of DeFi’s most contentious features.
Forking of DeFi systems to make more open-source alternatives is one consequence. One such fork is the Swerve.
Swerve was developed from a split off of Curve Finance. In order to facilitate the trading of stablecoins,
Curve Finance has developed a blockchain-based platform. The biggest benefit is an increase in the profit margin for liquidity providers due to the small slippage that occurs when dealing with stablecoins. A DAO, or decentralized autonomous organization, is present in Curve to improve the network’s decentralized governance by means of voting. Michal Egorov, the platform’s creator, has a lopsided majority of the votes. As a result, Swerve was born to serve as a community-owned and -operated hub.
