Project Mariana plans to use Curve v2 HFMM to deploy wholesale CBDC pools. This project is a collaboration between the Bank for International Settlements and several central banks in several countries. He is currently exploring the on-chain CBDC deployments. Curve Finance could therefore play a central role in the deployment of CBDCs. In this context, whales seem to want to make a short-term profit by selling their CRV tokens.
What role will Curve v2 play for the Mariane project?
Governments around the world have been talking a lot about CBDCs in recent years. But few were able to explain how they would bring the project to life. As part of the Mariane project, central banks may have found the answer. This would be called Curve Finance.
Indeed, recent reports suggest that Project Mariana was planning to use CurveFinance v2 HFMM to deploy wholesale CBDC pools. Put more simply, Curve Finance could be about to become a central part of a major tradFi upgrade. Recall that Mariana has made the merger between trading and settlement a priority. This is important for eliminating credit and settlement risk as seen in interbank currency trading.
The Bank for International Settlements, the Swiss National Bank, the Banque de France and the Monetary Authority of Singapore are the main stakeholders in Mariana. The use of Curve v2 AMM for CBDC Pools for simultaneous trading and settlement is strongly considered.
What impact on Curve Finance?
It is especially the CRV, native token of Curve Finance, which will be impacted since demand will increase, as well as its price. Already recent data place CRV among the 3 altcoins that have attracted the most attention from whales in the last 24 hours.
Indeed, the largest CRV token holders have launched take profit orders on their positions. This is logical since they wanted to take advantage of the rise to collect profits. However, 66% of circulating supply is controlled by addresses holding over 100 million tokens. This allows them to control the market, which is not necessarily positive.
Project Mariane has not yet decided on the use of Curve v2 AMM for its CBDC. Nevertheless, whales seem already want to take advantage of it. Could this haste hurt Curve Finance in the end?
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