Curve Finance launches on Moonbeam, raising $16 billion for the Polkadot ecosystem

Curve Finance, the largest DeFi protocol by Total Value Locked (TVL), is official debut on moonbeam.

It is the first protocol of its size and value to go live on Moonbeam, the EVM-compatible parachain launched on Polkadot earlier this year.

$16 billion in liquidity for the Polkadot ecosystem

Since its debut in early January, Moonbeam has seen a spike in activity. Dozens of DeFi projects have chosen Moonbeam as a launch pad to mine the Polkadot ecosystem and use its platform to migrate Ethereum-based dApps to Polkadot with virtually no modification.

However, there is currently no protocol deployed on Moonbeam that resembles the latest addition to the platform – Curve Finance.

Curve Finance is the largest DeFi protocol by total value, boasting over $19.65 billion in TVL across eight blockchain networks. Below that, more than $16.93 billion is tied up in Ethereum, making it Curve’s largest marketplace.

The launch of Curve on Moonbeam means the broader Polkadot ecosystem can access Ethereum’s value. Polkadot’s high speed and low transaction costs, as well as the ease of implementing Solidity contracts, make it a good alternative to the often-congested and always expensive Ethereum.

The AMM platform has become the leader in the DeFi space thanks to its unique approach to providing liquidity. Unlike similar AMMs like Uniswap and Balancer, Curve only has liquidity pools composed of similar active assets like stablecoins or wrapped tokens. This has allowed Curve to offer extremely low fees, very little slippage and less risk of temporary loss.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page