{"id":47414,"date":"2023-08-11T20:58:48","date_gmt":"2023-08-12T00:58:48","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/binance-labs-supports-curve-dao-token-with-5-million-investment-plans-bnb-chain-deployment\/"},"modified":"2023-08-11T20:58:50","modified_gmt":"2023-08-12T00:58:50","slug":"binance-labs-supports-curve-dao-token-with-5-million-investment-plans-bnb-chain-deployment","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=47414","title":{"rendered":"Binance Labs Supports Curve DAO Token with $5 Million Investment, Plans BNB Chain Deployment"},"content":{"rendered":"
\n

Crypto exchange Binance\u2019s investment arm, Binance Labs, has announced a $5 million investment in Curve DAO Token (CRV) in a display of support for Curve and decentralized finance (DeFi) at large.\u00a0<\/p>\n

As part of the collaboration, Curve will expand its support to BNB Chain \u2013 the Binance-initiated blockchain for decentralized applications that uses BNB to pay gas fees. The protocol is already active on a wide array of other layer 1 and layer 2 blockchains, including Ethereum, Arbitrum, Avalanche, Optimism, Polygon, and others.<\/p>\n

\u201cThis investment underscores Binance Labs\u2019 commitment to collaborating with Curve and shaping the future of the DeFi sector,\u201d wrote Binance in a blog post on Thursday.<\/p>\n

Curve is currently the largest automated market maker for stablecoins (aka \u201cstableswaps) and the second largest decentralized exchange (DEX), next to Uniswap. It manages roughly $250 million per day in trading volume, and boasts $2.4 billion in total value locked (TVL).<\/p>\n

Yi He, Binance co-founder and Head of Binance Labs, remarked in a statement that Curve plays a pivotal role in the broader DeFi ecosystem. \u201cGiven the recent events that have impacted the protocol, Binance Labs has offered our full support to Curve through our investment and strategic collaboration,\u201d she added.<\/p>\n

Curve’s Liquidation Risk<\/h2>\n

Curve ran into trouble last month after a hacker drained over $70 million across various liquidity pools associated with the program. Though damages were contained, the price of CRV fell dramatically in the aftermath from $0.73 to a low of $0.50.<\/p>\n

Various wealthy investors\u2013including Justin Sun \u2013 stepped in to help shore up the token\u2019s price, purchasing CRV from Curve founder Michael Egorov at a discounted rate. Collectively, they purchased roughly 39.25 million CRV tokens, for $15,8 million, shielding the token from a Egorov\u2019s potentially disastrous liquidation point at $0.37.<\/p>\n

\u201cBNB Chain has earned a significant presence in DeFi, and is well positioned to deploy Curve’s current and future products on its chain,\u201d said Egorov. \u201cWe look forward to collaboratively fostering innovation and growth across the DeFi ecosystem.\u201d<\/p>\n

BNB has also faced significant price pressure since June, after the Securities and Exchange Commission (SEC) alleged that the token was an unregistered security in a lawsuit against Binance. Its price has collapsed from $300 to $240 during that time.\u00a0
\u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto exchange Binance\u2019s investment arm, Binance Labs, has announced a $5 million investment in Curve DAO Token (CRV) in a display of support for Curve and decentralized finance (DeFi) at large.\u00a0 As part of the collaboration, Curve will expand its support to BNB Chain \u2013 the Binance-initiated blockchain for decentralized applications that uses BNB to […]<\/p>\n","protected":false},"author":1,"featured_media":47415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-47414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nBinance Labs Supports Curve DAO Token with $5 Million Investment, Plans BNB Chain Deployment | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Crypto exchange Binance\u2019s investment arm, Binance Labs, has announced a $5 million investment in Curve DAO Token (CRV) in a display of support for Curve\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=47414\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance Labs Supports Curve DAO Token with $5 Million Investment, Plans BNB Chain Deployment | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Crypto exchange Binance\u2019s investment arm, Binance Labs, has announced a $5 million investment in Curve DAO Token (CRV) in a display of support for Curve\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=47414\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-12T00:58:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-12T00:58:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/adobestock-286536391-edit.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=47414#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=47414\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Binance Labs Supports Curve DAO Token with $5 Million Investment, Plans BNB Chain Deployment\",\"datePublished\":\"2023-08-12T00:58:48+00:00\",\"dateModified\":\"2023-08-12T00:58:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=47414\"},\"wordCount\":380,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=47414#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=47414\",\"url\":\"https:\/\/ifintechworld.com\/?p=47414\",\"name\":\"Binance Labs Supports Curve DAO Token with $5 Million Investment, Plans BNB Chain Deployment | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-12T00:58:48+00:00\",\"dateModified\":\"2023-08-12T00:58:50+00:00\",\"description\":\"Crypto exchange Binance\u2019s investment arm, Binance Labs, has announced a $5 million investment in Curve DAO Token (CRV) in a display of support for Curve\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=47414#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=47414\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=47414#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Binance Labs Supports Curve DAO Token with $5 Million Investment, Plans BNB Chain Deployment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Binance Labs Supports Curve DAO Token with $5 Million Investment, Plans BNB Chain Deployment | iFintechWorld","description":"Crypto exchange Binance\u2019s investment arm, Binance Labs, has announced a $5 million investment in Curve DAO Token (CRV) in a display of support for Curve","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=47414","og_locale":"en_US","og_type":"article","og_title":"Binance Labs Supports Curve DAO Token with $5 Million Investment, Plans BNB Chain Deployment | iFintechWorld","og_description":"Crypto exchange Binance\u2019s investment arm, Binance Labs, has announced a $5 million investment in Curve DAO Token (CRV) in a display of support for Curve","og_url":"https:\/\/ifintechworld.com\/?p=47414","og_site_name":"iFintechWorld","article_published_time":"2023-08-12T00:58:48+00:00","article_modified_time":"2023-08-12T00:58:50+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/adobestock-286536391-edit.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=47414#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=47414"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Binance Labs Supports Curve DAO Token with $5 Million Investment, Plans BNB Chain Deployment","datePublished":"2023-08-12T00:58:48+00:00","dateModified":"2023-08-12T00:58:50+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=47414"},"wordCount":380,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=47414#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=47414","url":"https:\/\/ifintechworld.com\/?p=47414","name":"Binance Labs Supports Curve DAO Token with $5 Million Investment, Plans BNB Chain Deployment | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-12T00:58:48+00:00","dateModified":"2023-08-12T00:58:50+00:00","description":"Crypto exchange Binance\u2019s investment arm, Binance Labs, has announced a $5 million investment in Curve DAO Token (CRV) in a display of support for Curve","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=47414#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=47414"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=47414#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Binance Labs Supports Curve DAO Token with $5 Million Investment, Plans BNB Chain Deployment"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/47414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47414"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/47414\/revisions"}],"predecessor-version":[{"id":47416,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/47414\/revisions\/47416"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/47415"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}