A decentralized finance (DeFi) altcoin is outperforming the broader cryptocurrency market this week, sparking a 30% surge amid falling inflation rates.
In a new blog post, DeFi protocol Curve Finance (CRV) says that on its fourth anniversary, it is undergoing one of the largest emissions reductions in its history, ending all emissions except those from the protocol’s community.
According to Curve, its halving, or when the protocol’s mining rewards are cut in half, is modeled after Bitcoin’s (BTC) but occurs at a different pace.
“Curve has seen some emissions declines in its first three years, but this reduction is larger than most, from around 20% to 6%…
The fourth anniversary marked the end of all emissions except for “Community” emissions. “Community” emissions represent CRV tokens broadcast to Curve pools and other targets via gauges.
The “community” emission program is expected to continue for centuries, with a rate of decline mirroring that of the Bitcoin halving, but more continuous (occurring every year at a rate that puts it on track for a halving every four years).
Curve notes that not only have emissions from outside the community stopped, but the community itself has also reduced its emissions, marking a significant overall decline.
Earlier this week, Coinbase, the leading US-based cryptocurrency exchange, announced that it would be adding support for CRV as well as yearn.finance (YFI) and Synthetix (SYN).
At the time of writing, CRV stock is trading at $0.323, up 5.5% in the last 24 hours. On August 11, it was trading at $0.245.
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