CRV (Curve DAO Token) fell 1.28% in the last 24 hours.

Gate News Bot news, on October 22, according to CoinMarketCap data, CRV (Curve DAO Token) is currently priced at $0.53, falling 1.28% in the last 24 hours, with a high of $0.63 and a low of $0.50. The current market capitalization is approximately $740 million.

Curve DAO is building the software that supports the future world economy: decentralized, trustless, inclusive, and autonomous. Curve is an automated market maker (AMM) protocol, focused on low-slippage trading of stablecoin transactions. It offers multiple liquidity pools that allow users to exchange tokens with low fees and low slippage.

Important news about CRV recently:

1️⃣ YieldBasis launches early liquidity provider reward program YieldBasis announced that it will distribute a total of 5.625 million YB tokens as rewards to 4,055 early participating liquidity providers (LPs). The reward distribution will be based on the amount of funds deposited by LPs and the duration of participation, aiming to incentivize users to provide liquidity support during the early development of the protocol.

2️⃣ Curve DAO supporters receive additional rewards The YieldBasis plan aims to distribute 5 million YB tokens to voters who supported its launch on Curve DAO. These rewards will be allocated based on the proportion of veCRV votes cast by voters on specific proposals, reflecting the close partnership between YieldBasis and the Curve ecosystem.

3️⃣ Tiered reward mechanism promotes long-term participation YieldBasis adopts a tiered reward mechanism, offering higher reward ratios to early participants. At the same time, rewards exceeding 5000 YB will be unlocked linearly over one year. This design helps encourage long-term holding and participation, which may have a positive impact on the market performance of CRV.

Although YieldBasis's reward program may bring some benefits to CRV, the price of CRV still experienced a slight fall in the short term. This may reflect the market's cautious attitude towards the integration effects of new projects with the existing ecosystem, and investors may need more time to assess the long-term impact of this collaboration on the Curve ecosystem.

This message does not constitute investment advice, and investors should be aware of market volatility risks.