TRON DAO Ventures, the investment arm of TRON DAO, recently purchased $2 million worth of CRV tokens. As part of this strategic partnership, Curve will be launched on the TRON and BTTC networks.
Curve is a decentralized exchange, acclaimed for its automated market makers (AMM) designed for trading stablecoins. Having grown exponentially in the second half of 2020, it has already established itself as the epitome of DeFi platforms. Currently, Curve is the second decentralized exchange (DEX) in the world and the largest DEX for trading stablecoins.
The recent hack of the platform caused a chain reaction in the DeFi space. Justin Sun, Founder of TRON, was quick to express his support for Curve after the incident, saying, “Curve is critical DeFi infrastructure for the blockchain industry. Our hearts go out to the team and affected users. As a community, let’s support and strengthen security measures to protect our decentralized ecosystem. »
Amid market volatility on August 1, TRON forged a partnership with Curve, introducing a stUSDT pool to the platform. stUSDT, the world’s first real asset protocol (RWA) rebased on the TRON blockchain, is considered the Web3 world’s version of the Yu’E Bao (once China’s largest money market fund). According to Defillamathe TVL on stUSDT has already exceeded $700 million.
Subsequently, TRON DAO Ventures announced its investment in Curve, highlighting the support of the TRON ecosystem not only through collaboration, but also through financial support. As part of this partnership, Curve will integrate with the TRON and BTTC networks.
The collaboration between TRON, BTTC and Curve is expected to generate crucial synergies for the industry. Curve, a core infrastructure in the DeFi space, offers significant benefits in terms of reducing financial costs and wasted time, while supporting leading public blockchains such as Ethereum, Arbitrum, and Avalanche. This collaboration is expected to further develop TRON’s DeFi ecosystem. At the same time, as a major driver of DeFi innovation, TRON will share its most secure and modern products with Curve.
The integration between Curve and BTTC will also boost the growth of DeFi ecosystems, especially DEX platforms. As the industry’s first cross-chain heterogeneous interoperability protocol, BTTC has supported functionality between TRON, Ethereum, and BNB Chain since its launch. It will also introduce zero-knowledge (ZK) proof technology later this year, which allows users to build dApps seamlessly on different blockchains, promoting an inclusive and open ecosystem for everyone.
With support from TRON and BTTC, Curve predicts a rapid rebound, and users are sure to witness a more vibrant DeFi ecosystem in the crypto industry.
About TRON DAO
TRON DAO is a community-driven DAO dedicated to accelerating the decentralization of the internet through blockchain technology and dApps.
Founded in September 2017 by HE Justin Sun, the TRON network has continued to deliver impressive achievements since the launch of the MainNet in May 2018. July 2018 also marked the integration of the ecosystem of BitTorrent, a pioneer in decentralized Web3 services se boasting over 100 million monthly active users. The TRON network has gained remarkable traction over the past few years. As of August 2023, it had over 179.07 million user accounts on the blockchain, over 6.26 billion transactions, and over $13.01 billion in total locked value (TVL), as reported TRONSCAN.
Additionally, TRON hosts the largest amount of USD Tether (USDT) stablecoins in circulation in the world, overtaking USDT on Ethereum since April 2021. The TRON network completed its full decentralization in December 2021 and is now a community-governed DAO . Most recently, in October 2022, TRON was designated as the national blockchain of the Commonwealth of Dominica, marking the first time that a major public blockchain has partnered with a sovereign nation to develop its national blockchain infrastructure. In addition to the government’s approval of the issuance of Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens – TRX, BTT , NFT, JST, USDD, USDT, TUSD, have been granted statutory status as a digital currency and an authorized medium of exchange in the country.
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About Curve
Founded by Michael Egorov and launched in January 2020, Curve Finance positions itself as a DEX built on an AMM model. It focuses on trading stablecoins (USDT, USDC, DAI), synthetic/derivative/staking assets (wBTC, renBTC, stETH), etc. Besides its Ethereum mainstay, Curve has also expanded its presence to other chains such as Fantom, Polygon, Avalanche, Arbitrum, and Optimism.
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