Binance Labs announces a $5M investment in Curve DAO Token (CRV) and supports the deployment of Curve to BNB Chain, aiming to expand the DeFi ecosystem and explore strategic alliances.
Binance Labs, the venture capital and incubation arm of Binance, has invested $5M in Curve DAO Token (CRV), an Ethereum-based token that powers the Curve ecosystem. Curve is the largest stableswap and second-largest decentralized exchange (DEX), boasting approximately $2.4B in total value locked (TVL) and $215M in daily volume at the time of writing. Curve's DAO Token (CRV) utility token is used for exchanging stablecoins and ERC-20 tokens, staking, boosting, and voting in governance.
Yi He, Binance Co-Founder and Head of Binance Labs, expressed her support for Curve and the DeFi sector, emphasizing the company's commitment to collaboration. As part of the strategic partnership, Curve will explore deploying to BNB Chain, which would further contribute to the growth of the DeFi ecosystem on Binance's platform.
Curve founder Michael Egorov highlighted BNB Chain's significant presence in DeFi and expressed enthusiasm for the collaboration to foster innovation and growth across the DeFi ecosystem. With its focus on high liquidity, low slippage, and low-fee transactions, Curve will be a valuable addition to BNB Chain's growing DeFi ecosystem.