Curve will pay some users up to 50% of staking fees due to its new dividend program

The DEX robot dedicated to stablecoin Curve is launching a new dividend program for CRV token holders. In particular, users who stake CRV will receive half of the transaction fee – which is divided between the liquidity providers and the vCRV holder.

Curve will pay some users up to 50% of staking fees

As introduced above, after staking CRV to participate in a voting contract, a user will be exchanged for a voting escrow CRV (token). Those escrow tokens will begin receiving half of all the staking fees on Curve starting today.

As for transaction fee rewards, formerly 0.04% of transaction fees are only transferred to liquidity providers. With this new change, transaction fees will be split between liquidity providers and veCRV holders.

In the last week, transaction fees on Curve have fluctuated between $ 70,000 and $ 150,000 per day. The project has just hit the highest daily sales of all time with over $ 400,000,000.

Curve’s founder, Michael Egorov stated:

“We’ll start moving towards a cash flow-based protocol because the numbers are too sweet to not do it.”

Currently, 2 million CRV tokens are distributed to liquidity providers annually, although that amount will decrease by 15% per year.

Furthermore, Trading Volume increased partly for another reason: a vampire mining attack by Curve fork Swerve just ended.

Egorov stated:

“The fork attracted non-Curve people initially, but after their inflation ran out, they switched to Curve increasing the TVL (total value locked).”

curve-will-pay-some-users-up-to-50-of-staking-fees

CRV price | Source: CoinMarketCap

Curve is currently in third place on DeFi Pulse, with $ 1.18 billion in crypto assets. At press time, CRV is trading at $ 1.51, down from a seven-day high of $ 2.07. Even so, the token is still up over 20% in the last 24 hours, probably due to the news.

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