Did you fear Curve was going to rest on its laurels after becoming the largest DeFi protocol by fully diluted market cap?
Curve remains hard at work, even as others have checked out early for the holiday season.
This morning they filled a filled a pool with liquid gold.
For those keeping track, a gold pool has been in demand since August of last year! At the time, the debate was which gold token would be best. Since then, the factory has become sufficiently developed that anybody could now launch their own v1 gold pool between a gold token of their choice and Tether’s XAUT. With the new v2 pool, any gold token could then be easily bridged to USD.
Reading through discussions on DeFi forums about gold tokens last year, it’s cute to see so much discussion of oracle price feeds. Amazing how Egorov solved this challenge in the intervening year with his monumentally underappreciated crypto pool innovation.
Richard Chen @richardchen392021 DeFi has been a year of incremental improvements (e.g. better stablecoin) and copycats on other L1s. @Uniswap v3 and @PrimitiveFi RMMs are the only 0 to 1 innovations I've seen this year.
Curve today has enough v2 pools that it even could serve as a price oracle in a pinch. It’s incredible to see just how quickly the pools catch up to equilibrium price.
Crypto prices check out. $CRV pool looks a bit janky though.
This would imply Curve is priced around $5 USD. Oh, that’s accurate! 🎉🎉
Bears… not really BTFO since they often hoard gold and they must be happy about Curve’s new gold pool. But the sentiment stands!
Speaking of NFTs, wen v2 punks-apes pool?
Strictly speaking, it may technically become possible to offer wrapped NFT pools when the Curve v2 factory drops. We don’t have specifics about the factory, but if it can operate between any generic ERC20 token and any main crypto (ie ETH or Tether), then all this would require is a single script capable of wrapping NFTs as an ERC20 token. If you’re based outside the USA and allowed to innovate, it could be a fun holiday project to build out just such a clearinghouse and make sure ERC721s are ready for the Curve v2 revolution.