TRON DAO Ventures Advances DeFi Innovation with $2 Million CRV Token Investment as Curve Joins Forces with TRON and BTTC - Chainwire

18Aug

TRON DAO Ventures Advances DeFi Innovation with $2 Million CRV Token Investment as Curve Joins Forces with TRON and BTTC

Geneva, Switzerland, August 18th, 2023, Chainwire

TRON DAO Ventures, the investment arm of TRON DAO, has recently purchased $2 million worth of CRV tokens. As part of this strategic partnership, Curve will launch on both the TRON and the BTTC networks.

Curve is a decentralized exchange (DEX) acclaimed for its automated market makers (AMMs) tailored for stablecoin trading. Having experienced an exponential surge in the latter half of 2020, it once established itself as the epitome of DeFi platforms. Currently, Curve ranks as the world’s second-largest DEX and the largest DEX for stablecoin trading.

The recent hack targeting the platform has led to a chain reaction in the DeFi space. TRON founder Justin Sun promptly expressed his support for Curve after the incident, stating, “Curve is an essential DeFi infrastructure for the blockchain industry. Our thoughts are with the team and the users affected. As a community, let’s support and strengthen the security measures to protect our decentralized ecosystem.”

Amidst the volatile market on August 1, TRON forged a partnership with Curve, introducing a stUSDT pool on the platform. stUSDT, the world’s first rebase real-world asset (RWA) protocol on the TRON blockchain, is renowned as the Web3 world’s version of Yu’E Bao (once China’s largest money market fund). According to Defillama, the TVL on stUSDT has already exceeded $700 million.

Following that, TRON DAO Ventures announced its investment in Curve, allowing TRON’s ecosystem support to expand beyond collaboration to include solid financial backing. Meanwhile, Curve will integrate with the TRON and the BTTC networks as part of the partnership.

The collaboration among TRON, BTTC, and Curve is set to provide vital synergies for the industry. Curve, an essential infrastructure in the DeFi space, offers significant savings in financial costs and time while also supporting prominent public blockchains like Ethereum, Arbitrum, and Avalanche. This collaboration is poised to help further develop TRON’s DeFi ecosystem. Additionally, TRON, being a forefront player in DeFi innovation, plans to offer its most secure and cutting-edge products to Curve.

The integration between Curve and BTTC will also fuel the growth of DeFi ecosystems, especially DEX platforms. As the industry’s first heterogeneous cross-chain interoperability protocol, BTTC has facilitated cross-chain functionality between TRON, Ethereum, and BNB Chain upon its release. It will also introduce zero-knowledge (ZK) proof technology later this year, which enables users to build dApps seamlessly across different blockchains, promoting an inclusive ecosystem open to everyone.

With the backing of TRON and BTTC, Curve anticipates a swift rebound, and users are bound to witness a more vibrant DeFi ecosystem in the crypto industry.

About TRON DAO

TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.

Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of August 2023, it has over 179.51 million total user accounts on the blockchain, more than 6.28 billion total transactions, and over $12.12 billion in total value locked (TVL), as reported on TRONSCAN.

In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue 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 authorized digital currency and medium of exchange in the country.

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 the trading of stablecoins (USDT, USDC, DAI), synthetic assets/derivatives/staking assets (wBTC, renBTC, stETH), etc. In addition to its stronghold Ethereum, Curve also extended its presence across other chains such as Fantom, Polygon, Avalanche, Arbitrum, and Optimism.