YFI and Curve Collaborative Effort to be ‘Live’ in The Coming Weeks, says Andre Cronje
Besides the upcoming product with Yearn, Curve is working with Alpha Finance, Lido Finance, and Synthetix.
To celebrate the first anniversary of DeFi darling Yearn.Finance and Curve Finance, the teams will be collaborating to bring more to the community.
There are no details available on this front other than the YFI creator Andre Cronje sharing, “Finalizing currently. Should be live in next ~1-2 weeks.”
Some speculate it could be something to do with the yveCRV vault or incentivized crv-yveCRV pool.
Cronje’s latest comments came with Curve Finance celebrating its birthday and its TVL hitting $2 billion.
In terms of total value locked (TVL), the DEX has seen a growth from a mere 54k earlier last year. Meanwhile, YFI that gained momentum in the second half of 2020, currently has just $355 million in TVL.
One thing's for sure, something is coming, and the DeFi space is excited, although the market-wide weekend sell-off pushed the prices of YFI and CRV down by more than 15%.
YFI is currently trading at $31,50 and CRV at $0.66.
CRV has seen a lot of development lately; besides the upcoming product with Yearn, it recently introduced cross-asset swaps via another popular DeFi project Synthetix. In cross-asset swaps, Curve and Synthetix are being used as a bridge to let traders trade between different curve assets as long as they share a pool with a Synth (like sUSD, sEUR, sBTC, and sETH).
Curve has also partnered with Alpha Finance to develop new leveraged strategies and announced a staked ETH with Lido Finance. Through this, Curve will make it easier for ETH holders to support the proof-of-network while staying liquid and take advantage of DeFi.
— Curve Finance (@CurveFinance) January 5, 2021
Curve is basically launching a “trading pool” between native ETH and stETH with minimum slippage. stETH is received in exchange for staking ETH via Lido’s staking service.