TRON and Curve have bagged a crucial partnership in the DeFi sphere. There are basically two parts to this collaboration. The first part is where TRON DAO Ventures has invested $2 million in CRV by buying tokens of the same value. The second part is where Curve has agreed to launch on two networks, namely BTTC and TRON. Underlining the fact that there are three platforms involved in the partnership in one way or another. These are TRON, Curve, and BTTC.
TRON first entered into a partnership with Curve to introduce the stUSDT pool, making it the world’s first RWA, which is a real-world asset protocol. It was then hosted by TRON blockchain. The Total Value Locked for the same has reportedly surpassed the value of $700 million.
It is only later, in the middle of the same month, that TRON DAO Ventures, the investment arm of TRON DAO, announced the $2 million worth of investment in the ecosystem. Curve’s integration with both blockchain networks is a part of this partnership.
The partnership between them is hailed as crucial for the DeFi domain. It is likely to bring down the financial costs and inefficiencies while extending support for a public blockchain. This includes Arbitrum, Ethereum, and Avalanche. Curve, in return, will receive security and cutting-edge offerings of TRON.
Next comes the integration between Curve and BTTC. This is estimated to fuel the growth of DeFi ecosystems with a major focus on decentralized exchange. BTTC comes with the experience of supporting cross-chain functionality between Ethereum, BNB Chain, and TRON. It is now planning to launch zk-proof technology by the end of 2023. It will help users architect their decentralized applications on different blockchains.
Curve is now officially backed by TRON and BTTC, bringing hopes of a rebound for users to experience a vibrant DeFi ecosystem.
CRV, that is, Curve DAO token, is currently exchanging hands at $0.5022, down by 7.78% in the last 24 hours. It is way below its high value of $0.5419 in a single day. There is no concrete proof that the announcement has anything to do with the fluctuation in its price. It could be a general factor of volatility in play once again.
Many members of the community have welcomed the move; however, some of them have expressed dissatisfaction with the development. A few users have even pitched the idea of burning the token to kick the price upward.
As for the token value in the last 24 hours, BTC has also taken a similar hit in its value by going below the mark of $27,000. It was last seen being traded at $26,445.20. ETH portrays a greener picture, but the fact remains intact that it has also experienced a downfall to $1,684.92 against the previous value of $1,800+.
Source: https://www.cryptonewsz.com/tron-dao-ventures-investment-fuels-curves-launch-on-networks/