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ABC Labs has invested 2.2 million USD in the Curve ecosystem, purchasing 6.46 million sdCRV tokens

ABC Labs has invested 2.2 million USD in the Curve ecosystem, purchasing 6.46 million sdCRV tokens

Bitget2024/08/29 03:21

ChainCatcher news, ABC Labs has made a strategic investment of 2.2 million USD in the Curve ecosystem, purchasing 6.46 million sdCRV (Stake DAO's liquidity-locked Curve DAO tokens), and locking 923,000 Stake DAO tokens (SDT) in a four-year voting trust. This investment gives the Reserve ecosystem the largest voting rights among non-founding entities in Curve DAO.

These investments have expanded the influence of the Reserve ecosystem on CRV and SDT rewards (i.e., Gauge emissions), enhancing the protocol's ability to incentivize on-chain RToken liquidity within the Curve ecosystem.

This investment is part of a $20 million investment into the Curve ecosystem aimed at acquiring governance power and promoting RToken liquidity. Currently, RToken liquidity pools on Curve hold about $25 million worth of assets, mainly concentrated on Ethereum mainnet.

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