Curve Finance Has Applied For A 1 Million OP Grant From Optimism

The Optimism layer 2 Ethereum community has been asked to vote on a grant of 1 million OP tokens (~$775 million) to the Curve Finance DeFi protocol .

At the time of writing, the value of Curve’s locked assets on Optimism is $17.3M (up from $6.13B across all networks). Weekly trading volume – $3.4 million.

According to the proposal, 1 million OP will be distributed among LP liquidity providers over 20 weeks in equal shares of 50,000 tokens. 

The funds will serve as incentives for LPs, increase liquidity, and also contribute to attracting additional volumes of intermediate assets to the protocol. Expanding the use of the Ethereum scaling solution will reduce gas costs, the author of the proposal noted. 

There are currently three Curve pools on Optimism: sUSD, sETH, and sBTC. It is expected that their number will increase over time. 

A vote of the protocol community will determine the share of pools in the weekly distribution of OP.