Curve DAO (CRV) Exchange

Vote-escrowed CRV. Holders lock CRV for 1 week to 4 years to receive it

veCRV holders receive a share of DEX trading fees and crvUSD borrowing interest. Curve generated about $850

veCRV holders vote on which liquidity pools receive CRV emissions. It is the basis of the Curve Wars

It launched on August 13

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Over 40% of circulating CRV was locked in veCRV contracts as of 2026

Curve's stablecoin. By 2026 crvUSD pools ranked in Curve's top 10 by trading volume and crvUSD serves as collateral and liquidity across several Curve products

Protocols that want liquidity pay veCRV holders

It reduced annual inflation to about 5.02% and removed about 22 million tokens a year of emission sell pressure

A smart contract risk across Curve products

Open swapzone.io/exchange/curve-dao-token

CRV is the governance and incentive token of Curve Finance, a decentralized exchange (DEX) on Ethereum optimized for stablecoin and like-asset swaps (such as USDT/USDC/DAI or stETH/ETH). Curve uses an automated market maker with a specialized bonding curve that minimizes slippage for assets that should trade at nearly identical prices. CRV is distributed as liquidity mining rewards to users who provide liquidity to Curve pools. Holders can lock CRV for vote-escrowed CRV (veCRV) to boost rewards and direct CRV emissions to specific pools through the gauge weight system.

CRV is a freely transferable ERC-20 token. veCRV (vote-escrowed CRV) is a non-transferable locked position created by depositing CRV into Curve's voting contract for a chosen duration (up to 4 years). veCRV gives boosted liquidity mining rewards, voting rights on gauge weights, and a share of protocol fees. veCRV cannot be traded or transferred and expires over time. When you swap CRV on Swapzone, you are swapping the liquid CRV token, not veCRV.

Curve Finance was a central piece of Ethereum DeFi infrastructure from 2020 onward, providing deep stablecoin liquidity. In July 2023, a vulnerability in certain Curve pools using older Vyper compiler versions was exploited for approximately $70 million. The protocol recovered through a combination of hacker returns, team asset sales, and community support. Curve continued operations, and the exploit affected specific old pools rather than the core protocol. CRV also gained attention in 2023 due to founder Michael Egorov's large collateralized debt position using CRV as collateral.