Binance Labs Invests $5 Million In CRV Token As Curve deploys To BNB Chain: Report

Key Points:

• Binance Labs invests $5M in Curve DAO Token (CRV) to shape the future of DeFi.
• Curve is the largest stableswap and 2nd largest DEX, with $2.4B in total value locked.
• Curve plans to deploy to BNB Chain, further propelling the growth of the DeFi ecosystem.

Binance Labs announced that it committed a $5M investment in Curve DAO Token (CRV). As part of the collaboration, Curve will explore deployment to BNB Chain.

Binance Labs has invested $5 million in Curve DAO Token (CRV), an Ethereum-based token that powers the Curve ecosystem. The investment is part of Binance Labs’ commitment to collaborating with Curve and shaping the future of the DeFi sector.

Curve is the largest stableswap and second-largest DEX, with approximately $2.4 billion in total value locked and $215 million in daily volume at the time of writing. It is designed to allow users and other decentralized protocols to exchange ERC-20 tokens on its platform with low fees and low slippage.

Curve DAO Token (CRV) is the utility token of the Curve DeFi protocol used for exchanging stablecoins and other ERC-20 tokens, along with staking, boosting, and voting for governance purposes.

Binance co-founder and head of Binance Labs, Yi He, said that Curve is the largest stableswap and has contributed to the steady growth of the DeFi space in 2021. Binance Labs has offered its full support to Curve through its investment and strategic collaboration. The move is viewed as a starting point, and Binance looks forward to working with Curve to propel the growth of the DeFi ecosystem further.

Curve currently operates across several chains, offering the advantages of speed and cost. As part of the collaboration, Curve plans to deploy to BNB Chain. Curve serves as a foundational layer of DeFi, and the move will further propel the growth of the BNB Chain DeFi ecosystem.

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