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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

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.

Trending

1
CoinDesk - Unknown
El Salvador Purchases 80 Additional Bitcoin at $19K, President Bukele Says

The last purchase by the Central American country had been in May.

CoinDesk - Unknown
2
CoinDesk - Unknown
VanEck Files New Application for Spot Bitcoin ETF

The application comes about eight months after the SEC rejected the investment firm’s last application.

CoinDesk - Unknown
3
CoinDesk - Unknown
First Mover Asia: Speculating on Tokenized Carbon Offsets Won't Help Climate Crisis, Says Consultant; BTC Falls Under $19K Amid Wider Crypto Woes

A significant number of carbon credits are from projects 8-10 years old; Ether and other major altcoins plummet.

CoinDesk - Unknown
4
CoinDesk - Unknown
Crypto Lender Celsius Network Exploring Options to ‘Preserve and Protect’ Assets

Celsius Network is consulting with experts to try to reduce the fallout from its mid-June swoon.

CoinDesk - Unknown