TL;DR
- Michael Egorov proposes a 21 million CRV grant to fund Swiss Stake AG, the Swiss company behind Curve.
- The funds will be used for research, software development, security audits, and promoting the protocol over one year.
- The proposal faces criticism for lacking a detailed roadmap and clarity on fund usage; approval will require a 30% quorum in the on-chain vote.
Michael Egorov, founder of Curve, has put forward a new proposal to the decentralized protocol community to secure funding for Swiss Stake AG, the Swiss company responsible for its development.
The proposal seeks approval for a grant of 21 million CRV tokens, equivalent to approximately $6.34 million at the current token value. These funds are intended to finance the company’s research and development initiatives for one year.
Here is a review of what Swiss Stake (company building Curve) did so far! pic.twitter.com/R0PjjTX9mQ
— Curve Finance (@CurveFinance) August 19, 2024
Since its launch in 2020, Curve has established itself as a cornerstone of the DeFi economy, attracting collaborators and building a strong community. Swiss Stake AG, as the main developer, has been crucial to the protocol’s growth. However, facing the need to retain talent and ensure the project’s long-term sustainability, the company now relies on community financial support to continue its contributions.
Calls for More Clarity on Curve’s Roadmap
Egorov’s proposal clarifies that the requested funds will be used exclusively for software development tasks, security audits, and promoting Curve technology, including the creation of software development kits (SDKs) and other resources to facilitate interaction with the protocol’s smart contracts. Additionally, the proposal includes growing the ecosystem through event organization and educational resource creation.
Despite the proposal’s significance, there has been some opposition within the community, primarily due to the lack of a detailed roadmap specifying how the funds will be utilized. Some members have expressed concerns about process transparency. Suggesting that a cost breakdown and a strategic plan similar to that of Aave, another prominent DeFi protocol, should be provided.
The proposal still needs to go through the on-chain voting process, which will require a 30% quorum for approval. If this quorum is met and the majority of votes are favorable. The 21 million CRV will be released over the course of a year. Allowing Swiss Stake AG to continue its work.
