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Curve Protocol : Leading DEX for Stablecoins
USDC, USDT, BUSD, PAX, TrueUSD, and DAI are all examples of stablecoins that have recently gained popularity. They have an issue with price stability and liquidity (particularly decentralized stablecoins). When MakerDAO reduced its stability charge to 5.5 percent, many customers of Compound (which had an interest rate of 11 percent at the time) decided to stay because they had taken out a loan in DAI and changing DAI to USDC is a costly procedure. At the same time, many DeFi users are eager to lend their stablecoins in exchange for a 5% APR, which is far higher than what traditional banking gives. Users would be hesitant to provide the same money to trading firms that guarantee profits. Curve Finance addresses the issue of lack of liquidity while trading Stablecoins and high costs. Introduction Curve Finance uses liquidity pools and bonding curves to enable high-efficiency stablecoin trading and low-risk rewards for liquidity providers. When trading from one stablecoin to another on Curve, customers are not vulnerable to the price slippage on DEXs. Curve, unlike Uniswap, lends assets on Compound when they aren’t being traded and pays liquidity providers interest on those loans. Curve was created as an alternative to trading stablecoins on general-purpose DEXes like Uniswap, which have algorithms that aren’t designed for such transactions. Curve’s debut resulted in increased liquidity and more competitive prices for stablecoins. As interest rates in money markets changed, DeFi lenders might quickly and efficiently switch from USDT to USDC or USDC to DAI etc. Curve is an Ethereum-based exchange liquidity pool. The Curve is built for incredibly efficient stablecoin trading and low-risk trading fees go to liquidity providers and veCRV holders. Curve currently offers over 40 distinct official liquidity pools, with the tricrypto2 (USDT / wBTC / WETH) and 3pool (DAI / USDC / USDT) being two of the most popular. However, it’s worth noting that pegged asset trading is still a big part of the market. CRV Token CRV is the Curve protocol’s governance token. It is primarily utilized to incentivize liquidity to the platform. The rise in capital benefits Curve users because it gives more trading liquidity and decreases slippage for end-users. Voting, staking, and raising rewards can be gained by using the CRV token. Users can participate in the community and can introduce or vote on proposals. Depositors can obtain 50% of all trading fees generated by the protocol by staking their CRV tokens. Liquidity Providers can use boosting to increase their CRV awards by up to 2.5x. To access all of these features, token owners must lock their CRV in Curve for vote-escrowed CRV (veCRV) in exchange. The longer the CRV is locked in Curve, the more veCRV you received. For example, 1,000 CRV locked for a year produces 250 veCRV, but the exact amount locked for four years produces 1,000 veCRV. As a result, the longer the lock-up period, the greater the user’s voting power and incentives. This ensures that token holders are invested in the protocol’s long-term success. Curve Token Distribution The following groups received CRV tokens as part of the initial token distribution: 61% to pre-CRV liquidity providers with a one-year vesting period; 30% to shareholders (founders and investors) with a 2-4-year vesting period; 3% to team members with a two-year vesting period; and 5% to the community reserve. The remaining 57 % of the overall maximum supply will be given in stages to future liquidity providers as incentives. Despite the original supply of 1.3 billion, the effective circulating quantity of CRV was zero at launch, due to vesting schedules. Based on this timeline, the inflation of released CRV is expected to be large in the next few years. Only 11.2 percent of the supply is in circulation as of March 10, but that number is expected to rise to 3.37 billion in five years. How to Trade on Curve DEX? Similar to most DeFi applications, you have to allow Curve protocol on your wallet to interact with your DAI or USDC balance before you can trade. Select the asset you’d want to convert (for example, USDC) and the amount (for example, 1,000) on the exchange; the exchange rate and quantity you’ll receive (including all slippage and costs) will be displayed. Curve’s value is in its ability to surprise you with its exchange rate. Fees Currently, all pools have a 0.04 percent fee, 50% of which goes entirely to liquidity providers and 50% to veCRV holders. There is no charge for administration. DAO members have power to determine fees and pool specifications. What are Liquidity Pools? Liquidity pools are a type of smart contract that contains a pool of tokens. If you were to make a pool of DAI and USDC, one DAI would equal one USDC. You would have the same number of tokens in the pool, … Continued
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EXPLORE WITH XPLR ME
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Xplr Me goes beyond academics, and is for all age groups and life stages, putting students in touch with educators and coaches from all around the world, who will guide them to success. With life coaches teaching students how to set goals and meet them, to career coaches who will help nail the perfect resume, Xplr Me is not an average enrichment site. Be constantly enriched with continuous guidance and mentorship that will set students up for success.
THE BIRTH OF XPLR ME
Founded by Nirali Mehta in 2021, Xplr Me was born from the frustration of having to find teachers and mentors for herself and her two kids. Traditional classes and teachers were bound by distance and location, and by logistics, especially with the limitations brought by the global pandemic. There was always that feeling of compromise between the best teacher and mentor, and what was on offer and convenient.
Xplr Me completely eradicated this pain point by bringing educational providers and professionals together on to one platform from across the globe. Now, with Xplr Me, anyone on the hunt for classes, mentorship or guidance can visit the website, find a course that best fits their needs, at a time slot that is convenient to them. Imagine, learning a whole new language from a native speaker to the basics of photography with a professional photographer.
Nirali says, "Learning has always been a passion of mine and it has always been a source of frustration when I was unable to sign up for the classes I wanted. When I became a mom to two kids, I began to juggle their schedules with mine, to search for classes that balanced their learning, between academics and life skills. This experience really opened my eyes, to how it's really difficult to find the right person to teach you what you need to learn at that time. That was the starting point for Xplr Me. After all, learning should be part of our life's journey, but struggling to learn need not be."
EXPLORE WITH EASE
Xplr Me features a wide variety of classes from academics to alternative healing, mentorship, counseling, photography, and anything else under the sun. Enthusiasts could pick from an Ayurveda course one day to a Crochet class the next.
With the classes happening completely online, students and teachers don't even have to be in the same country. This gives students the opportunity to learn from people all around the world, and not have to settle with what is closest to them.
On the tech front, Xplr Me uses virtual tools integrated within the platform, and a custom-built calendar and appointment function to empower students to pick and choose timings, class options and tutors. Students can also pick from pre-recorded sessions to live private one-on-one classes, and group classes.
Nirali adds, "The emphasis on non-academic topics was a very mindful one. Life and social skills are just as important, and I wanted to offer that to enhance learning. Furthermore, for adults, especially, it is so difficult to pick up a new hobby with either the stressors of time, work or family coming into play. Xplr Me removes all that so adults can explore and get excited about learning new things, or picking up old hobbies again. Because Xplr Me is so flexible, there really is a whole world to explore and it all starts on Xplr Me!"
Nirali's goal for Xplr Me is to be a platform that will empower not only students but everyone to be able to come home and learn a new hobby, a new experience, or a new learning opportunity without feeling constrained by geographical location.
About Xplr Me
Founded by Nirali X in Nov 2021, Xplr Me (Explore Me) is an unconventional online learning platform that brings a diverse range of academic and non-academic courses to anyone in the comfort of their own homes. Xplr Me goes beyond academics and is for all age groups and life stages, putting students in touch with educators and coaches from all around the world. With courses from life coaches, guitar players, tour guides, and counselors, Xplr Me is not an average enrichment site. https://xplrme.com.
For more information, please contact:
Danielle Chow, +65 9727 7766, [email protected]
Krisha Ramos, +65 9181 8408, [email protected]
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comXplr Me (Explore Me) is a digital platform that connects students to tutors, life coaches, and mentors from anywhere in the world, while they are sitting in the comfort of their living room. Pick up a new hobby, learn a new skill, or just plain understand yourself better with the assortment of classes and courses on offer.
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