- Curve DAO has rolled out a Tri Crypto token pool, hosting Ethereum, WBTC and USDT with DeFi’s deepest liquidity.
- The latest offering fueled a rally in the DeFi tokens CRV and CVX, yielding over 5% gains overnight for holders.
- DeFi traders can benefit from their Ethereum holding, and provide liquidity in two pools.
Curve, a decentralized exchange, shipped its latest offering, in the form of Tri Crypto token pool, on Tuesday. Curve DAOs pool hosts Ethereum, WBTC and USDT and its launch triggered a rally in CRV and CVX prices.
Through the new liquidity pool, traders can earn double the benefits from their Ether holdings, providing liquidity first to the TriCrypto pool and then deposit the TriCrypto LP token in a different pool.
Also read: AVAX price begins rally after massive spike in activity on Avalanche
How to earn double benefits from Ether in Curve DAOs new pool
Decentralized crypto exchange Curve’s TriCrypto Pool doubles the benefit for Ether holders through its TriCrypto pool. The latest product offering was shipped on April 25 and it hosts three assets- Ethereum (ETH), Wrapped Bitcoin (WBTC) and USD Tether (USDT).
Ethereum holders can provide liquidity in the TriCrypto Pool and use the TriCrypto LP to provide liquidity in another pool, TriCrypto-stETH pool for instance. This doubles the gains for users holding Ether, opening up opportunities to earn higher income from liquidity pools.
5/ @CurveFinance solves this.
— Winter Soldier ❄️♂️ (@WinterSoldierxz) April 26, 2023
One ETH can be used to provide liquidity on not just one pool, but two pools.
How they did it?
First, users deposit ETH into TriCrypto pool & receive TriCrypto LP
Then, deposit TriCrypto LP into another pool, such as the TriCrypto-stETH pool.
The rollout of the pool has triggered a rally in Curve DAO (CRV) and Convex Finance (CVX) tokens. Both assets have yielded upwards of 5% gains for holders since Tuesday, based on data from CoinGecko.
Curve beats Uniswap through its new liquidity pool
Curve’s competitor Uniswap pairs tokens with Ethereum and reduces the volatility associated with price movements, making trade and earning yield easier for users. However, Curve’s latest offering disrupts this and transitions from stableswap and the volatile Automated Market Maker (AMM) market.
1/ @CurveFinance secretly shipped TriCrypto-Token pool on @ethereum mainnet yesterday.
— Winter Soldier ❄️♂️ (@WinterSoldierxz) April 26, 2023
This move is set to take Curve's composability & capital efficiency to the next level.
How will this impact the Curve ecosystem and your $CRV & $CVX bags?
A short pic.twitter.com/K4jv3FGToj
The TriCrypto pool hosts ETH, WBTC and USDT, making it one of DeFi’s deepest liquidity markets to swap between the three assets and pushing users into the volatile AMM market.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.