Nov. 1, 2021: European Alpha Bets 💶🇪🇺
Github Activity Hints at Impending Curve v2 News
Even though everything here is public domain and 100% speculation, it doesn’t seem as though this has registered in the public consciousness just yet. Ergo, we’re going to keep this entire article paywalled in hopes of providing you wonderful subscribers something like alpha.
Some interesting activity in the Curve github library on a repository called curve-crypto-contract with the tasty description: “Guess what”
Looking through the repository, it looks as if Curve v2 is tantalizingly close. In fact, within the repository we can even observe from some various artifacts that Curve chad founder apparently deployed a Euro pool to mainnet within the past day.
Indeed, looking at the address published in the deployment log, you can see the contract is in fact live but has not yet been verified on Etherscan, meaning if you wanted to try to ape you would need to do so directly. We hope you know a good Brownie tutorial!
Of course, it’s presumably not public because it may well still be in testing. We wouldn’t recommend trying to front run this, since for all you know the pool will be deleted in favor of a v2 pool.
That said, we can start to get a good preview of how Curve v2 may function by looking into the CryptoSwap.vy contract in the repository.
Right up top we see some helpful comments describing the script as a “pool for two crypto assets.” In other words, all our dreams coming true.
From the comments, the pool looks to operate as a metapool using the battle tested 3pool or tricrypto as a base, along with another asset. Presumably this will be the general format of the Curve v2 Pool Factory — one volatile asset pegged against the base pools.
As usual, the pools squash higher level math into the most efficient EVM formulation possible, although it appears they will still be quite expensive and thus most useful for whales:
The very first pool deployed appears to be a Euro (Tether) / 3pool implementation
One open question is if this is intended to obsolete the Fixed Forex service or improve upon it. We’ve seen in the past that Andre Cronje obsessively tracks the Github history and was among the first to create factory pools to facilitate his service before the UI made it easier for the general public. It’s entirely possible he’s following the action closely and ready to front-run an inevitable announcement by building this into his own service.
Of course, no activity has hit these pools just yet beyond deployment. Be on the lookout for big announcements from Curve in the upcoming weeks.
Disclaimers! All proceeds are all being put to good use at PAC DAO for the uphill battle of trying to save the great American ape. Speaking of which, here’s a little more alpha… any holder of a PAC DAO token is entitled to up to 5 Bonus NFTs for free (minus gas). Details here:
