Curve has posted a proposal in its community to raise $6.3 million for its long-term operations.
Curve Finance, one of the larger DEX platforms operating within the DeFi space, published a new proposal on its community forum in the evening of August 19th, calling for extra funding to support its continuous operation.
In the proposal, it is written that Swiss Stake, the legal entity behind Curve Finance, spent the allocated tokens fully since the launch of the project in August 2020. Now, to further develop software and find new developers for the project, the company needs additional resources in order to provide for Curve's long-term running.
The Swiss Stake, in particular, is requesting 21 million CRV tokens from the community fund, holding a total of 47.5 million CRV, or roughly $6.3 million. This will be transferred to the wallet of the project and be vested linearly over the course of one year.
Swiss Stake has committed to using the funds raised for Curve ecosystem maintenance, expansion, and development while providing bi-annual reports. The company also clarified that the received CRV tokens may be staked and assured that funds would not be misused.
The proposal is currently at the discussion stage within the community and will soon move into the voting process.
Community reception to the proposal has generally been negative. While Swiss Stake is recognized as having played a critical role in the development of Curve Finance—not only in the past but currently—many are, quite understandably, dissatisfied about the request by the company for half of the remaining funds from the treasury of the community without an obvious development roadmap. The concerns aired were on the company's ability to establish a stable revenue stream to avoid further funding requests in the future.
Curve Finance TVL
Notwithstanding the tumultuous events, Curve's Total Value Locked has held up so well. At present, the DeFi protocol holds a TVL of over $2 billion.
