Curve Finance has activated a new fee distribution mechanism that converts all fees into crvUSD, utilizing the CoW Protocol for an environmentally friendly process. This new system creates an additional supply sink for the crvUSD stablecoin. The first crvUSD claims have been processed successfully, with rewards now streaming to sdCRV holders. SeaSolver supported Curve Finance LP pools by converting last week's fees into crvUSD. Convex Finance has also switched to crvUSD fees. This mechanism involves $CRV and $veCRV revenue and uses programmatic orders to unify tokens.
ICYMI: Curve Finance unlocks new potential with crvUSD fee switch Read the full article ๐ https://t.co/pQQLOR4PRW https://t.co/8zsu48CHNO
Curve Finance unlocks new potential with crvUSD fee switch https://t.co/ctahwL8ZIP
Interesting with @yearnfi. They pretty much did fee switch before fee switch ๐คฏ https://t.co/JJU1uhc68l
Looks like @ConvexFinance successfully switched to crvUSD fees, too https://t.co/KGOlw6HCjb
Curve Finance adopts crvUSD for fee distribution https://t.co/O7S8SZkjhY via @cointelegraph
[COINTELEGRAPH] Curve Finance adopts $crvUSD for fee distribution
JUST IN: @CURVEFINANCE SWITCHES FEE DISTRIBUTION TO crvUSD - CREATES "AN ADDITIONAL SUPPLY SINK FOR THE STABLECOIN"
๐ The first $crvUSD rewards from @CurveFinance $veCRV revenue have been claimed and are now streaming to $sdCRV holders! https://t.co/ztoriVpKSi
First crvUSD claims are going. Fee switch worked! https://t.co/9cNXQRrF9X https://t.co/WKe4FT9US3
SeaSolver was the first to support @CurveFinance LP pools and convert last week's fees into crvUSD ๐ฅ https://t.co/j7eKKd8xf9
Details about how new fee distribution (converting all fees into crvUSD) works. With CoW, it is the most environmentally friendly fee conversion method ๐ค https://t.co/URmidxRCQm
Exciting news โ @CurveFinance is using CoW Protocol for its new fee collection mechanism! Curve has various sources of revenue, one via LP tokens. To distribute these fees, Curve first needs to convert them into a unified token. That's where programmatic orders come in. A ๐งต
Fee switch activated ๐ฅ๐ฐ $CRV $veCRV https://t.co/ATlaR7t4n5