ABC Labs made a $2.20 million strategic investment in the Curve Ecosystem, purchasing 6.46 million sdCRVs (StakeDAO's Liquidity Locked CurveDAO Tokens) and locking 923,000 Stake DAO Tokens (SDT) in voting custody for a 4-year period. This investment gives the Reserve Ecosystem the largest voting power of any non-founding entity in the Curve DAO.
These investments expand the impact of the Reserve ecosystem on CRV and SDT rewards (i.e. Gauge emissions), and enhance the protocol's ability to incentivize on-chain RToken liquidity in the Curve ecosystem.
The investment is part of a $20 million investment in the Curve ecosystem to gain governance power and boost RToken liquidity. Currently, the RToken liquidity pool on Curve holds around $25 million in assets, primarily focused on the Ethereum mainnet.
ABC Labs invests $2.20 million in Curve Ecology to buy 6.46 million sdCRVs
2024-08-29 03:17:59
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