Curve Finance applied for a $1 million grant from Optimism
The Tier 2 Optimism Ethereum network community was asked to vote on a grant of 1 million OP tokens (~$770,000) to Curve Finance’s DeFi-protocol.
A (draft) proposal to get an OP grant from @optimismFND https://t.co/54NpiBYUIX
— Curve Finance (@CurveFinance) July 24, 2022
As of this writing, Curve’s blocked asset value on Optimism is $17.3 million (the figure for all networks is $6.13 billion). The weekly trading volume is $3.4 million.
Under the proposal, 1 million OP would be distributed to LP liquidity providers over 20 weeks in equal installments of 50,000 tokens.
The funds will serve as incentives for LPs, increase liquidity, and help bring additional volumes of intermediate assets into the protocol. Expanding the use of the Ethereum scaling solution would reduce gas costs, the proposer noted.
There are currently three Curve pools on Optimism: sUSD, sETH and sBTC. It is assumed that their number will increase over time.
The proportion of pools in the weekly OP distribution will be determined by a vote of the protocol community.
Recall that in June the Optimism team conducted airdrop OP among 232,000 users.