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DeFi

Curve Finance Integrated With Base To Offer New Liquidity Pools

August 31, 2023 - Around 2 mins mins to read

Key Points:

  • Curve Finance introduces new liquidity pools on Base with enhanced security measures.
  • Curve recovered 70% of funds lost in a recent hack after offering a 10% bug bounty to hackers.
  • Coinbase’s Base mainnet launches, offering lower fees and faster transactions.
Curve Finance, a prominent decentralized exchange protocol tailored for Stablecoins and Crypto Assets pegged 1:1 in value, has unveiled its latest liquidity pools on Layer 2 Base.
Curve Finance Integrated With Base To Offer New Liquidity Pools

The platform introduces three dynamic liquidity pools: 3c featuring USDbC, axlUSDC, and crvUSD; cbeth comprising ETH and cbETH; and tricrypto containing crvUSD, tBTC, and ETH. While a forthcoming router (trading interface) is in the works, users can engage in trading directly within the pools.

Furthermore, Base is bolstering its infrastructure by incorporating bridging capabilities for CRV and crvUSD.

Dissimilar to Uniswap, Curve sets itself apart by enabling users to transact stablecoins with minimal slippage and fees. Liquidity Providers (LPs) stand to gain transaction fees and lending interest from prominent platforms like Compound and yEarn.finance.

While Curve operates in a non-custodial manner, it’s important to note that pool creation remains exclusive to the platform.

According to Coincu’s coverage, Curve faced a security vulnerability in its liquidity pools due to the usage of the Vyper language in early August. Exploiting these loopholes, hackers gained unauthorized access.

In an unconventional response, Curve established a contract offering the hacker a 10% bug bounty reward from the stolen assets. While several hackers accepted refunds, a couple remained adamant. However, the protocol has now reclaimed a substantial 70% of the pilfered funds.

In recent news, Coinbase successfully launched the Base mainnet earlier this month, introducing over 100 dApps to the public. The platform boasts reduced fees and expedited transactions.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

base

Coinbase

CRV

Curve Finance

Layer 2

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.