The Ethereum decentralized finance (DeFi) sector has witnessed some forks over time which means that most of the present projects are copying the protocol of existing projects. With this move, we have seen the massive rise of different projects with the same existing protocol but with characteristics that slightly differentiate them.
Decentralized project, Curve was the latest to join the list after it moved on to its own DeFi fork which is known as Swerve. Michael Egorov, Founder and developer of the project has given the reasons why Curve moved to the new DeFi fork which promises 100% community ownership.
Curve platform uses AMM to boost the uses of the platform
Curve prides itself as one of the best projects of the DeFi space which seeks to provide clients with exchange services in stablecoins and Bitcoin on the Ethereum blockchain. The Founder of the platform noted that the platform has been using the automated market maker to increase the uses of the platform.
The major function of Curve is to provide customers with better market depth than other protocols for the same total value locked.
With the move to the new DeFi fork, it would provide customers with more involvement opportunities.
Curve founder lists reasons why the platform moved to the new Swerve protocol
While it carried out its services on the Ethereum blockchain, Curve was partially decentralized at launch which was a move by the development team to choose the direction that the project will take. With the protocol partially decentralized at launch, the community of followers asked the developers to make the protocol entirely decentralized.
As a result of that, the developers debuted the Curve DAO token. As a result of the absence of the full UI at launch, some miners were able to mine more tokens before others. Another reason for the move to the new DeFi fork was because the developers had full control of the protocol because they owned 70% voting power.