Curve Finance, the leading automated market maker (AMM) and decentralized exchange (DEX) liquidity pool, has launched the Harmony Protocol. Curve Finance’s growth will be accelerated as a result of the integration, and the company’s vision of creating deep on-chain liquidity will be realized.
Curve Finance appears to be on the rise as the partnership strengthens the decentralized finance protocol. Curve Finance is currently the most extensive protocol on DeFi, with over USD 15 billion total value locked (TVL).
Harmony Protocol, which announced the integration on Twitter, stated that the collaboration would benefit both platforms. Curve Finance will use Harmony’s interoperability solutions to develop deep on-chain liquidity, according to the announcement.
Harmony went on to say that the integration would allow Curve to use its bridges to Ethereum and the Binance Smart Chain (BSC). Curve Finance’s ability to support stablecoin swapping across multiple chains will be greatly enhanced as a result of this.
Curve Finance will also extend its stablecoin swapping solutions to the Harmony ecosystem as a result of the collaboration. Harmony has also announced USD 2 million in $ONE token incentives to help the decentralized exchange protocol promote its launch.
Curve, on the other hand, has already generated over USD 16 million TVL in the first 12 hours of its launch on the Harmony blockchain. According to Giv Parvaneh, a senior blockchain engineer at Harmony, the DEX platform experienced rapid growth following its initial launch.
The total value locked in Defi exceeds USD 200 billion.
According to DefiLlama, a DeFi TVL aggregator, TVL in DeFi protocols has surpassed the USD 200 billion mark for the first time.
According to the graph above, the total value locked in DeFi has increased by nearly 10% since the beginning of the year.
Curve also has the most extensive DeFi dominance, with a TVL of USD 15.87 billion. Curve, on the other hand, interacts with seven different crypto networks, including Avalanche (USD 5.87 billion), Ethereum (USD 140.4 billion), and Polygon (USD 4.2 billion).
Meanwhile, Aave, Makerdao, and Wrapped Bitcoin (WBTC) are major contributors to the growth of the DeFi TVL. Aave is worth USD 14.7 billion, Makerdao is worth USD 13.6 billion, and WBTC is worth $11.5 billion in TVL.
It should also be noted that the entire DeFi TVL is distributed across blockchain protocols such as Ethereum, Harmony, Solana, and Polygon. Avalanche, Fantom, Terra, Arbitrum, Binance, Celo, and Harmony are among the others.
Price changes for $CRV and $ONE
Curve Finance’s DAO Token,$CRV, is currently rising in value, having gained 2.1 percent in the last 24 hours to reach USD 2.7. It has a market capitalization of USD 1,044,087,339 and a 24-hour trading volume of USD 164,964,677.
Meanwhile, the Harmony native token, $ONE, was on a bullish streak, gaining 6.8 percent in the last 24 hours. The token was priced at USD 0.238, with a 24-hour trading volume of USD 393,345,592 and a market capitalization of USD 2,566,248,157.