Curve Finance Calls For Funding Of 1M OP Tokens From Optimism
1 million OP tokens will be distributed to liquidity providers on Curve Finance’s Optimism pools.
Curve Finance has submitted a governance proposal to Optimism for its 1 million OP token grant, according to an Optimism forum post submitted on July 24.
Curve Finance extends Layer-2
The largest liquidity pool for token swaps is known as Curve, and Optimism is a layer-2 Ethereum protocol. With an average weekly trading volume of $3.4 million conducted in Curve pools on Optimism, the total amount of Curve locked value on the platform is currently $17.4 million.
According to the fundraising proposal, Curve will issue 1 million OP tokens worth $850.000 over the course of 20 weeks. If the proposal is approved, 50.000 OP tokens will be distributed each week to the Curve pools.
These tokens serve as the driving force behind gauged Curve pools on Optimism’s liquidity providers (LPs). These pools are chosen by a DAO vote on Curve, and they receive newly issued tokens on a weekly basis.
On Optimism, there are three gauged Curve pools at the moment: sUSD, sETH, and sBTC. These three pools will each receive 50,000 new OP tokens each week, though it is anticipated that this amount will rise over time.
The grant, according to the proposal, will aid in encouraging liquidity on Optimism and therefore extending the layer-2 network’s decentralized finance reach.
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