Curve is a decentralised exchange on Ethereum and other chains optimised for low-slippage swaps between similarly priced assets such as stablecoins. Its CRV token and gauge system govern liquidity incentives.
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- Curve is an automated market maker designed for efficient trading between assets that should hold similar values, such as stablecoins and wrapped versions of the same token, using a specialised bonding curve to minimise slippage. Liquidity providers deposit into pools and earn trading fees and CRV rewards.
- Its governance uses vote-escrowed CRV and a gauge system that allocates emissions across pools, which gave rise to vote incentive markets such as Votium. Curve became a central piece of stablecoin liquidity in decentralised finance.