Curve founder Michael Egorov suggests 21 million CRV financing for Swiss Stake AG

• The proposal of Michael Egorov aims to use a new financing for Swiss Stake AG, the organization that builds the curve.
• The Curve founder says that a CRV subsidy of 21 million will contribute to financing the research and development projects of the Defi Protocol.
• Members of the community criticize that the proposal is missing a clear timetable and transparency regarding the use of the funds.

Curve founder Michael Egorov has submitted a proposal with which he would like to catch up with the consent of the community for a new financing of Swiss Stake AG, the company that creates the protocol for decentralized finance (Defi).

in his Suggested The Curve Finance founder calls for the community to approve a 21 million CRV-token allocation to the company based in Switzerland. The 21 million CRV is a total of $ 6.34 million in the current CRV prices and are used to finance the research and development initiatives of Swiss Stake AG, wrote Egorov.

Here is a look back at the previous activities of Swiss Stake (corporate structure curve)! pic.twitter.com/r0pjjtx9mq

- curve financing (@curvefinance) 19. August 2024

In the event of approval, the financing will come from the curve community find and the tokens are distributed over a year. The Community Fund currently has a little more than 47.5 million CRV tokens.

"This application calls for a subsidy for software research and development work as well as associated tasks for the benefit of Curve, as described in this application. The grant applies to the next year," noted the Curve founder.

Swiss Stake AG has used up the CRV allocation received in August 2020 and needs the funds to continue their f & e-tasks, including the remuneration of the over 25-year-old.

proposal encounters the headwind

One of the reactions to the proposal of the curve founder was criticized that there was no clear and detailed plan for the use of the grants.

"I understand the need perfectly and Swiss Stake AG deserves it! It would be great if you could publish a product/strategy roadmap + cost encryption. More transparency is always welcome!"

The CRV token price was on Tuesday, August 20, 2024, 10:00 am CET 0.3035 $.