Curve Finance, the largest DeFi protocol by total value locked (TVL), has officially launched on Moonbeam.
released on @MoonbeamNetwork https://t.co/38uIaHaIPw!
— Curve Finance (@CurveFinance) February 14, 2022
This is the first protocol of this scale and value to go live on Moonbeam, the EVM-compliant parachute launched at Polkadot earlier this year.
Moonbeam and Curve are lighting up the Polkadot ecosystem with $16 billion in liquidity
Since its launch in early January, Moonbeam has seen a huge increase in activity. Dozens of DeFi projects have chosen Moonbeam as their launchpad to leverage the Polkadot ecosystem, using its platform to redeploy Ethereum-based dApps to Polkadot with almost no change.
However, none of the protocols currently implemented on Moonbeam come close to the latest addition to the platform: Curve Finance.
Curve Finance is the largest DeFi protocol by total value locked, with more than $19.65 billion in TVL across eight blockchain networks. Of the $19.65 billion, more than $16.93 billion is locked in Ethereum, making it the largest market on Curve.
Curve’s deployment on Moonbeam means that the broader Polkadot ecosystem will be able to access its value on Ethereum. Polkadot’s high latency and low transaction costs, as well as its ease of implementation of the Solidity contract, make it a good alternative to the often congested and always expensive Ethereum.
The AMM platform has become a leader in the DeFi space thanks to its unique approach to providing liquidity. Unlike similar AMMs like Uniswap and Balancer, Curve only features liquidity pools made up of similarly behaving assets such as stablecoins or wrapped tokens. This has allowed Curve to offer extremely low fees, very little slippage, and reduced risk of temporary loss.
Posted in: Polkadot, DeFi
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This post Curve Finance Launches on Moonbeam Bringing Over $16 Billion in Liquidity to Polkadot
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