Curve DAO Rejects $6.2M CRV Grant for Core Development Team
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Curve DAO rejected a proposal to allocate 17.4 million CRV tokens ($6.2M) to its core development team. The vote, driven by Yearn and Convex-linked wallets, raised concerns about governance and funding transparency. Despite the rejection, CRV price increased as tokenholders demand stronger funding scrutiny.
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- Curve DAO blocks $6.2M CRV grant as majority vote turns against core team funding proposal.
- Yearn and Convex-linked wallets drive nearly 90% of votes opposing the Curve development grant.
- CRV price rises despite rejection as tokenholders push for tighter funding scrutiny.
The Curve DAO has rejected a governance proposal that would have allocated 17.4 million CRV tokens, valued at about $6.2 million, to the decentralized exchange’s core development team. The decision followed a vote that raised ongoing questions around governance structure, funding transparency, and the concentration of voting power within major DeFi protocols.
The proposal was submitted by Michael Egorov, founder of Curve Finance. It sought approval for a CRV token grant to Swiss Stake AG, the firm that oversees Curve’s core development and is managed by Egorov. According to the proposal, the f…
Read The Full Article Curve DAO Rejects $6.2M CRV Grant for Core Development Team On Coin Edition.
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