Curve is a decentralized exchange liquidity pool on Ethereum designed for efficient stablecoin trading. The protocol was launched by Michael Egorov in January 2020.
Curve uses a pricing formula that is specifically designed to facilitate swaps that happen in a roughly similar range. Thanks to this formula, users can swap stablecoins with low fees and slippage. Users can also swap between different tokenized versions of a coin such as WBTC, renBTC, and sBTC. Liquidity providers on Curve earn transaction fees for their market-making activity.
The fee on all Curve's pools is 0.04%, of which 50% goes to liquidity providers, and 50% to veCRV holders (members of the DAO). Curve's governance token is CRV, first issued in August 2020 with a total supply of around 3.03B. Curve's investors include Coinbase Ventures, Digital Currency Group, Framework Ventures, and RR2Capital, among others.