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Curve Founder Proposes $6.2M CRV Allocation to Swiss Stake AG Rejected by Vote

Curve Founder Proposes $6.2M CRV Allocation to Swiss Stake AG Rejected by Vote

Michael Egorov’s plan to allocate 17.45M CRV tokens for ecosystem growth was narrowly defeated, with substantial opposition from Yearn and Convex-affiliated addresses.

CRV

Fact Check
The evidence overwhelmingly and consistently supports the statement. Multiple high-authority sources, including primary sources from the official Curve Finance social media account and the founder Michael Egorov himself, confirm that a proposal was made to grant CRV tokens to Swiss Stake AG. Numerous sources specify the founder's name, the exact token amount (17.45 million CRV), and the recipient (Swiss Stake AG). The valuation of this allocation at approximately $6.6 million is also explicitly stated by several independent sources, including a news outlet and an on-chain analytics platform. There are no contradictions in the provided evidence. The consensus across primary and secondary sources makes the statement highly credible.
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Summary

Curve Finance founder Michael Egorov’s proposal to grant 17.45 million CRV tokens, worth approximately $6.2 million, to Swiss Stake AG for ecosystem development and lending protocol expansion was rejected by community vote. The final tally showed 54.46% against and 45.54% in favor, with nearly 90% of opposition tied to Yearn and Convex addresses.

Terms & Concepts
  • CRV token: The native cryptocurrency of Curve Finance, used for governance and incentives within the protocol.
  • Llamalend: A lending platform under the Curve Finance ecosystem designed for efficient crypto borrowing.
  • On-chain forex: A decentralized foreign exchange mechanism built directly on a blockchain.