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What is Swerve (SWRV) coin and how does it work?

by Financial Economy

Swerve coin is the native token of the Swerve Finance protocol, which is the fork of Curve Finance. According to the statements made, Swerve plans to be more fair in management than Curve, and therefore the team behind the platform does not reveal itself. Information about some topics that what is Swerve (SWRV) coin, how it works, how to buy it, on which exchange, how much is it, etc. is in continuation of the article. You can browse here for information about TAROT coin.

What is Swerve (SWRV) coin and how does it work?

The Swerve Finance project is a decentralized liquidity exchange pool forked from Curve Finance, which has gained rapid value recently. Similar to the Curve platform, the native cryptocurrency of this project, which primarily focuses on stablecoin pools, is the SWRV coin. It was launched with a pool of Dai (DAI), USD Coin (USDC), Tether (USDT), and TrueUSD (TUSD) to offer innovative solutions to crypto investors.

Swerve features!

As a decentralized autonomous organization, Swerve Finance aims to reward liquidity providers. In addition, the platform, which uses the SWRV coin, an ERC-20 token issued by Ethereum for governance, has reached a large user base in a short time. Swerve (SWRV) coin was released as a community-driven alternative to Curve.

Swerve founders!

The Swerve project was founded by a pseudonymous developer known in the cryptocurrency world as “John Deere”. The project was announced on September 3, 2020 and launched the next day. In October 2020, Swerve management voted to hire community member “Fairly Rare Pepe” as an additional developer. There is no government support behind the Swerve project, which adopts a decentralized system.

How to use SWRV coin?

Although the Swerve cryptocurrency project is a clone of Curve Finance, it has a wide range of uses thanks to its features. SWRV coin can be used in cryptocurrency pools hosting stablecoins. Apart from that, SWRV coin is used by investors for staking or other DeFi transactions. Launched with the need to fork DeFi systems to create more transparent products, the SWRV coin can also be used for investment on exchanges.

Swerve token advantages and disadvantages!

SWRV coin advantages are:

  • It provides easy access to traditional banking services without centralization.
  • Trading fees on the platform are quite low, half of which is given to liquidity providers.
  • SWRV uses a bounty game mechanism called “Boost”, where liquidity providers who lock the coin can receive a higher APY than those who do not raise it.
  • The Swerve project has a single pool of leading stablecoins such as DAI, TUSD, USDT and USDC.
  • The founder of Swerve states that it offers better swap pricing and higher annual percentage return on stablecoins than other platforms.

SWRV coin disadvantages include:

  • Since there are many projects that can compete with the SWRV coin in the DeFi world, it can sometimes stay in the background in a highly competitive environment.
  • SWRV coin is a risky investment choice due to its high volatility.

Which exchange is SWRV coin on?

Swerve coin is listed on some cryptocurrency exchanges such as OKX, MEXC, CoinW, AAX, Gate.io, etc.

How to buy SWRV coins?

Swerve coin can be purchased from listed some cryptocurrency exchanges, like mentioned above. However, before trading, it is necessary to make sure that the exchange and the crypto project are “RELIABLE”. It is so important point for investors.

SWRV coin supply!

Total supply of Swerve coin is 19.570.800 SWRV.

SWRV coin price!

As of August 16, 2022, at the time of the writing, 1 Swerve coin price is around $0, 1962 (because of the volatility on crypto market the price can change instantly).

Caution: The information contained in this content is for general informational purposes only. It is not investment advice.

For information about cryptocurrency: https://en.wikipedia.org/wiki/Cryptocurrency

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