Curve Finance, a stable decentralized exchange, has added the euro as an additional currency at the user’s request.
As announced in a tweet Sunday, Curve now has a liquidity aggregator to switch between Stasis Euro (EURS) and synthetic sEUR on the Synthetix derivatives platform.
Currently, the stable currency market is dominated by US dollar denominated currencies, which means that European and Asian users have no choice but to take a share of the US dollar, whether they like it or not.
Curve hopes that the new aggregator will develop the euro markets on the platform, gauge interest in additional forex options on Ethereum and ultimately be a step toward opening the Curve FX markets.
Management’s proposal has been approved to allow Curve DAO token, CRV, to reward pooled liquidity providers. However, this was not accepted at the time of publication.
The management contract and base token were prematurely put out by a community member in August. After the developers were firmly convinced of the legality of contracts and standards, it was decided to accept the distribution as an official launch.
The following month, Curve became one of 10 new members to join the Global DeFi Alliance Huobi.
According to the latest data from Dune Analytics, Curve is the fourth largest DEX by volume, accounting for around 10% of the total market share. The largest of them was Uniswap – nearly 60%. Curve is an automated market maker that specializes in exchanges between similar assets that are not expected to be valued. Many of the Curve groups have different versions of the USD stablecoins on Ethereum, but the swap also supports exchanges between different versions of encapsulated assets, including Bitcoin (BTC).