Curve.fi is an Ethereum-based decentralized exchange (DEX) that allows people to swap their ERC20-based tokens, including different stablecoins, in a completely decentralized manner without the need for an intermediary. The platform offers low slippage and fast transactions.
Curve DAO works on the automated market maker (AMM), where there are no order books, and traders don’t have to wait for their swaps to execute. Each swap is done through its liquidity pools, where people can deposit their tokens allowing anyone to tap into the pools and exchange tokens. While the liquidity pools offer an instant exchange of tokens, the liquidity providers enjoy the benefit of getting a portion of the fee involved.
CRV acts as the primary token of the DEX, allowing people to use it to pay for their transactions. Being completely decentralized, Curve.fi is also a decentralized autonomous organization (DAO). That means no central party controls the platform, and all actions are governed democratically through the CRV token, which gives voting power to its holders.