Nexo

Start Earning Up to 16% Interest Automatically

Learn More
Home » Business » Ethereum Favorite Curve Finance Heads to Fantom, xDai

Ethereum Favorite Curve Finance Heads to Fantom, xDai

by

Curve Finance's expansion to Polygon kickstarted a huge migration of yield farmers onto the network. Now, the protocol has launched on Fantom and xDai.

Ethereum Favorite Curve Finance Heads to Fantom, xDai
Shutterstock cover by Sergey Uryadnikov

Share this article

Curve Finance, a decentralized exchange popularly used for trading stablecoins, has launched on Fantom and xDai’s growing ecosystems.

Curve’s Multi-Chain Future

Curve Finance has released an identical version of its decentralized exchange on Fantom and xDai.

On Fantom, three pools are available, while xDai has only one: the protocol’s DAI, USDC, and USDT pool. With the proper incentivization mechanisms, the protocol should drive significant liquidity to the two chains.

Curve on the xDai network. Source: Curve.
Source: Curve Finance

When Curve ported its protocol to Polygon, the move contributed to the Ethereum scaling solution’s exponential growth. The decentralized exchange provides deep pools of liquidity with minimal price slippage even on large transactions. A month after it had launched on Polygon, many yield farmers migrated from Ethereum and Binance Smart Chain.

As both Fantom and xDai are Ethereum Virtual Machine compatible, porting an Ethereum-native protocol like Curve doesn’t require rewriting most of the code. Minimal changes are sufficient to release a working product.

Curve has been the talk of DeFi recently, particularly after it launched its highly anticipated V2 update. The protocol added concentrated liquidity feature pioneered by Uniswap V3 and gave the option to trade volatile assets. The project has also been central to ongoing DeFi rivalries involving Yearn.Finance, Alchemix, and Convex Finance as it distributes CRV rewards to the respective protocols.

Curve was one of Ethereum’s first DeFi protocols and has significantly grown in recent years. It contains about $7.95 billion in total value locked according to DeFi Pulse, which places it second behind only Aave.

Disclaimer: The author held ETH and several other cryptocurrencies at the time of writing.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.