At the moment when the competition for locked positions is fierce, Curve has reached more than 4 billion US dollars, and basically all of them are currencies with stable value. Let's take a look at Curve's recent update and how its fundamental value has changed over time.
Two updates:
First, the UI interface is updated, Pools has added a search function and a column for corresponding entries;
Second, the Uni token proposal (proposal to be voted on the Curve platform) has been submitted by the relevant team, and Uni’s listing on Curve should also be a recent event.
The advantage of Curve is that it has low slippage and can accept large transactions.
Crv lock-up ratio increases, almost no inflation
Crv is deflation, the fundamentals are very good.
veCrv must be locked in order to obtain it. Currently, it is locked for four years to obtain 1:1 veCrv (as shown in the figure below), voting rights and half of the transaction fees of all pools (0.04%÷2=0.02%, according to the lock-up ratio).
The veCrv obtained by locking Crv here is not static, and the acquisition of veCrv in the future will be more demanding. Currently, veCRV is locked for 4 years, and veCRV can be obtained at 1:1; for 3 years, it is 1:0.75, which means 10,000 CRV3 are locked. Years, 7,500 veCRVs will be obtained; and so on, just look at the data in the picture.
The current annualized return of locked veCRV is relatively stable at 23.58%. However, most of the lockups are large institutions. Because they need to vote to launch their own liquidity pools, it is very normal for institutional teams to take out 1 million to 3 million Crv (or even 5 million Crv) for lockup.
This is the data of the most recent locked Crv (become veCRV). Here is the table I made myself:
In the past week, the circulation of Crv actually seemed to be decreasing. When about 2 million Crv were released every day, the circulation did not increase, and it was even deflationary. You can see that from 130.55 million in circulation on March 9 to 129.0181 million in circulation today, why? Because compared with the release amount, more Crv lockups have become veCRV, and the lockup ratio ranges from 46.37% to 47.36%.
The overall lock-up volume (TVL) increasing trend
The current lock-up volume (TVL) has reached 4.2 billion US dollars. Among them are mainly BTC, stable coins (such as USDC, DAI, husd, Gusd, busd), ETH, etc.
Summarize
Summarize
Therefore, the increase in the "lock-up volume" in the title refers to two lock-up volumes. The first refers to the continuous increase of the overall TVL lock-up volume of the Curve platform to more than 4 billion US dollars; the second refers to the Curve platform token (CRV) The lock-up volume continues to increase, while the overall Crv quantity continues to inflate while ensuring that its market circulation remains flat or even decreases. This is a K-line technical analysis is not good, but the fundamentals are very strong project.
Reference reading: "The Investment Logic of Bitcoin Politics》
Disclaimer: This article has no commercial cooperation with projects such as Curve.
