Curve Finance Integrates With Near’s Aurora Network

Near’s DeFi hub, Proximity Labs, will allocate up to $7.5 million in grants to Curve.

AccessTimeIconMay 5, 2022 at 6:15 p.m. UTC

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Curve Finance, a decentralized exchange built on the Ethereum blockchain that focuses on stablecoin swapping, has integrated with Near protocol’s Ethereum Virtual Machine (EVM) layer called Aurora.

Aurora is an EVM built on the Near protocol, offering full Ethereum compatibility, low transaction costs and trustless bridging, according to its website. Aurora has $1.3 billion in total value locked (TVL) and is ranked 12th among top decentralized finance (DeFi) protocols, according to DeFi Llama.

The integration allows users to connect to the Aurora network on their Ethereum wallets like MetaMask when using Curve and access the decentralized application's liquidity pools, according to the press release.

Near’s DeFi hub, Proximity Labs, will allocate up to $7.5 million in grants to Curve to help establish its presence in the Aurora ecosystem, according to a press release.

The merger comes at a time of increasing demand for Aurora, with DeFi protocols such as Aurigami, Bastion and Trisolaris all choosing the platform to build on. The deployment of market-leading bridge software is also notable; Multichain, Synapse and Wormhole have also integrated with Aurora.

“Curve’s industry standard stableswap function will add a layer of DeFi composability and liquidity to the Aurora DeFi ecosystem, and at the same time better position Aurora in an increasingly multi-chain world,” the press release said.

Curve Finance’s token CRV was down 5% to $2.34 in the last 24 hours amid a broad crypto market sell-off on Thursday. NEAR, the token of the Near platform, was down 3% on the day.

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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

CoinDesk - Unknown

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

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