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Curve Founder Proposes 17M CRV Grant to Boost Research and Dev Team
Key Takeaways:
- Curve Finance founder Michael Egorov proposes a grant of 17.45 million CRV tokens, valued at approximately $6.6 million, to fund technological advancements and team support.
- Swiss Stake AG, the firm behind Curve, aims to utilize the grant for significant tech upgrades and enhancements slated for 2026.
- The proposal highlights the development of a new version of the lending system, Llamalend, and the creation of an onchain foreign currency swap platform.
- The grant intends to support ongoing software research, ecosystem development, and the improvement of Curve’s governance and operational infrastructure.
WEEX Crypto News, 2025-12-15 09:43:46
In a strategic move to propel its growth and maintain its competitive edge in the decentralized finance (DeFi) space, Curve Finance founder Michael Egorov has outlined an ambitious proposal. The proposal suggests a substantial grant of 17.45 million CRV tokens, currently valued at around $6.6 million, to be allocated to Swiss Stake AG. This proposal, if approved, is positioned to support significant technological and infrastructure advancements in the Curve protocol, further solidifying its position in the DeFi market.
Understanding the Grant Proposal
The monumental proposal emerged from the Curve DAO governance forum, with Egorov emphasizing its critical role in fostering Curve’s ecosystem growth and improvement. The primary aim of the grant is to fund a comprehensive range of technological enhancements, infrastructure improvements, and security fortifications within the lending protocol. These enhancements are crucial in maintaining and elevating the platform’s competitiveness and utility in a swiftly evolving market landscape.
One of the key objectives of the grant is to sustain a robust team of 25 developers at Swiss Stake AG, ensuring that the Curve ecosystem continues to benefit from their expertise and contributions. As outlined in the proposal, the grant is intended to fund various facets of the ecosystem’s development, including software research, infrastructure development, and security safeguards. It promises to align development efforts with the strategic goals set for the year 2026, including notable launches and upgrades.
Planned Enhancements for 2026
A key component of the proposal is the planned launch of Llamalend v2, an evolution of Curve’s existing lending system. The new version promises to incorporate advanced features and improvements that aim to enhance user experience and system efficiency. Additionally, a pioneering onchain foreign exchange (FX) swap platform is proposed, set to revolutionize how currency swaps occur within the DeFi space by leveraging the power of blockchain technology for seamless and secure transactions.
Another pivotal aspect of the proposed upgrades is the enhancement of Curve’s user interface (UI), ensuring that the platform remains intuitive and accessible for both seasoned investors and new entrants into the DeFi ecosystem. This focus on UI improvement underscores Curve’s commitment to usability and user satisfaction, crucial factors in maintaining its user base and attracting new participants to the platform.
Ensuring Open-Source Innovation
In alignment with the principles of decentralized finance, the grant proposal also outlines plans for releasing any intellectual property (IP) developed through the use of grant funding under an open-source license. This approach ensures that the fruits of the funded developments remain accessible to the broader community, fostering innovation and collaboration beyond the immediate confines of Curve and Swiss Stake AG.
Financial Oversight and Reporting
To ensure transparency and accountability, Swiss Stake AG has committed to providing bi-annual reports detailing the expenditure and impacts of the grant. The firm has also indicated its intention to stake a portion of the received CRV tokens. This strategic move would enable the generation of additional yield, further bolstering the financial resilience and capabilities of the ventures undertaken with the grant. It’s crucial, however, that these funds are not diverted from the intended purposes, as clearly stipulated in the proposal.
The Drive for Self-Sustainability
Despite having established several revenue streams through various deployments and participation in protocols such as Convex, StakeDAO, and Yearn, Swiss Stake AG continues to rely significantly on community support. This dependency underscores the importance of the grant in achieving financial self-sustainability. By investing in key areas of development and improvement, Swiss Stake AG aims to enhance its operational efficiency and revenue potential, reducing reliance on external support in the future.
Curve Finance: A Snapshot of Growth
Founded in early 2020, Curve Finance has rapidly emerged as a formidable player in the DeFi space. With a total value locked (TVL) of approximately $2.2 billion, Curve stands as the 21st-largest DeFi protocol according to DefiLlama data (as of 2023). This impressive metric serves as a testament to the platform’s utility and the trust it has garnered within the crypto community.
The Broader Context of DeFi Growth
The proposed grant reflects not just a strategic move for Curve but also highlights broader trends in the DeFi sector. As decentralized finance continues to capture the imagination of investors and technology enthusiasts, platforms like Curve are instrumental in driving innovation and expanding the possibilities within digital finance. The introduction of new functionalities and improvements contributes to increased adoption and integration of DeFi solutions across different sectors.
The announcement from Curve also resonates with recent insights from industry leaders, such as the Chainlink founder, who has noted that DeFi is already making significant strides toward mainstream adoption. These developments are crucial for positioning decentralized finance as a viable alternative to traditional financial systems, offering more transparency, inclusivity, and efficiency.
Challenges and Opportunities Ahead
While the grant proposal paints a promising picture for Curve’s future, it also highlights the challenges associated with sustaining innovation and growth within the DeFi space. Ensuring security, managing scalability, and navigating regulatory landscapes are vital considerations for platforms like Curve. These challenges, however, also present opportunities for differentiation and leadership in the industry.
As Curve continues to evolve, it must remain vigilant in addressing these challenges while exploring new avenues for innovation and collaboration. The proposed enhancements, community engagement, and strategic financial management outlined in the grant proposal are essential components in realizing this vision.
Conclusion
The proposed 17.45 million CRV token grant from Curve Finance founder Michael Egorov to Swiss Stake AG is a pivotal step towards bolstering the Curve ecosystem. With a focus on technological advancements, user experience improvements, and financial sustainability, the grant is poised to further Curve’s strategic objectives and strengthen its position in the rapidly evolving DeFi landscape. As the industry continues its march toward mainstream adoption, initiatives like this underscore the ongoing potential and dynamism of decentralized finance.
FAQs
What is the purpose of the 17M CRV grant proposed by Curve?
The grant aims to support the growth and development of Curve’s ecosystem, funding technological advancements, security enhancements, and sustaining a dedicated development team. It is intended to propel the platform towards achieving strategic objectives for 2026.
How will the grant be utilized by Swiss Stake AG?
Swiss Stake AG plans to use the grant to fund various technological upgrades, including the launch of Llamalend v2 and a new onchain FX swap platform. It will also support UI improvements and other strategic developments within the Curve ecosystem.
What transparency measures are in place for the grant usage?
Swiss Stake AG has committed to providing bi-annual reports detailing the expenditure of the grant, ensuring transparency and accountability. They will also stake a portion of the CRV tokens to generate additional yield while adhering to the proposal’s stipulations.
How is Curve addressing financial sustainability with this grant?
While Swiss Stake AG has established revenue streams, it remains reliant on community support. The grant will facilitate self-sustainability by funding key development initiatives that enhance operational efficiency and revenue potential.
What role does open-source play in Curve’s development strategy?
Curve plans to release any IP developed through the grant under an open-source license, encouraging community collaboration and innovation in line with the principles of decentralized finance.
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This is the technical background of the "help page sentence": because the key is on X's servers, X has the ability to respond to legal processes without the user's knowledge. Signal does not have this capability, not because of policy, but because it simply does not have the key.
The following illustration compares the security mechanisms of Signal, WhatsApp, Telegram, and X Chat along six dimensions. X Chat is the only one of the four where the platform holds the key and the only one without Forward Secrecy.
The significance of Forward Secrecy is that even if a key is compromised at a certain point in time, historical messages cannot be decrypted because each message has a unique key. Signal's Double Ratchet protocol automatically updates the key after each message, a mechanism lacking in X Chat.
After analyzing the X Chat architecture in June 2025, Johns Hopkins University cryptology professor Matthew Green commented, "If we judge XChat as an end-to-end encryption scheme, this seems like a pretty game-over type of vulnerability." He later added, "I would not trust this any more than I trust current unencrypted DMs."
From a September 2025 TechCrunch report to being live in April 2026, this architecture saw no changes.
In a February 9, 2026 tweet, Musk pledged to undergo rigorous security tests of X Chat before its launch on X Chat and to open source all the code.
As of the April 17 launch date, no independent third-party audit has been completed, there is no official code repository on GitHub, the App Store's privacy label reveals X Chat collects five or more categories of data including location, contact info, and search history, directly contradicting the marketing claim of "No Ads, No Trackers."
Not continuous monitoring, but a clear access point.
For every message on X Chat, users can long-press and select "Ask Grok." When this button is clicked, the message is delivered to Grok in plaintext, transitioning from encrypted to unencrypted at this stage.
This design is not a vulnerability but a feature. However, X Chat's privacy policy does not state whether this plaintext data will be used for Grok's model training or if Grok will store this conversation content. By actively clicking "Ask Grok," users are voluntarily removing the encryption protection of that message.
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X Chat's initial release only supports iOS, with the Android version simply stating "coming soon" without a timeline.
In the global smartphone market, Android holds about 73%, while iOS holds about 27% (IDC/Statista, 2025). Of WhatsApp's 3.14 billion monthly active users, 73% are on Android (according to Demand Sage). In India, WhatsApp covers 854 million users, with over 95% Android penetration. In Brazil, there are 148 million users, with 81% on Android, and in Indonesia, there are 112 million users, with 87% on Android.
WhatsApp's dominance in the global communication market is built on Android. Signal, with a monthly active user base of around 85 million, also relies mainly on privacy-conscious users in Android-dominant countries.
X Chat circumvented this battlefield, with two possible interpretations. One is technical debt; X Chat is built with Rust, and achieving cross-platform support is not easy, so prioritizing iOS may be an engineering constraint. The other is a strategic choice; with iOS holding a market share of nearly 55% in the U.S., X's core user base being in the U.S., prioritizing iOS means focusing on their core user base rather than engaging in direct competition with Android-dominated emerging markets and WhatsApp.
These two interpretations are not mutually exclusive, leading to the same result: X Chat's debut saw it willingly forfeit 73% of the global smartphone user base.
This matter has been described by some: X Chat, along with X Money and Grok, forms a trifecta creating a closed-loop data system parallel to the existing infrastructure, similar in concept to the WeChat ecosystem. This assessment is not new, but with X Chat's launch, it's worth revisiting the schematic.
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Every WeChat feature operates within China's regulatory framework. Musk's system operates within Western regulatory frameworks, but he also serves as the head of the Department of Government Efficiency (DOGE). This is not a WeChat replica; it is a reenactment of the same logic under different political conditions.
The difference is that WeChat has never explicitly claimed to be "end-to-end encrypted" on its main interface, whereas X Chat does. "End-to-end encryption" in user perception means that no one, not even the platform, can see your messages. X Chat's architectural design does not meet this user expectation, but it uses this term.
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After the blockade of the Strait of Hormuz, when will the war end?
Before using Musk's "Western WeChat" X Chat, you need to understand these three questions
The X Chat will be available for download on the App Store this Friday. The media has already covered the feature list, including self-destructing messages, screenshot prevention, 481-person group chats, Grok integration, and registration without a phone number, positioning it as the "Western WeChat." However, there are three questions that have hardly been addressed in any reports.
There is a sentence on X's official help page that is still hanging there: "If malicious insiders or X itself cause encrypted conversations to be exposed through legal processes, both the sender and receiver will be completely unaware."
No. The difference lies in where the keys are stored.
In Signal's end-to-end encryption, the keys never leave your device. X, the court, or any external party does not hold your keys. Signal's servers have nothing to decrypt your messages; even if they were subpoenaed, they could only provide registration timestamps and last connection times, as evidenced by past subpoena records.
X Chat uses the Juicebox protocol. This solution divides the key into three parts, each stored on three servers operated by X. When recovering the key with a PIN code, the system retrieves these three shards from X's servers and recombines them. No matter how complex the PIN code is, X is the actual custodian of the key, not the user.
This is the technical background of the "help page sentence": because the key is on X's servers, X has the ability to respond to legal processes without the user's knowledge. Signal does not have this capability, not because of policy, but because it simply does not have the key.
The following illustration compares the security mechanisms of Signal, WhatsApp, Telegram, and X Chat along six dimensions. X Chat is the only one of the four where the platform holds the key and the only one without Forward Secrecy.
The significance of Forward Secrecy is that even if a key is compromised at a certain point in time, historical messages cannot be decrypted because each message has a unique key. Signal's Double Ratchet protocol automatically updates the key after each message, a mechanism lacking in X Chat.
After analyzing the X Chat architecture in June 2025, Johns Hopkins University cryptology professor Matthew Green commented, "If we judge XChat as an end-to-end encryption scheme, this seems like a pretty game-over type of vulnerability." He later added, "I would not trust this any more than I trust current unencrypted DMs."
From a September 2025 TechCrunch report to being live in April 2026, this architecture saw no changes.
In a February 9, 2026 tweet, Musk pledged to undergo rigorous security tests of X Chat before its launch on X Chat and to open source all the code.
As of the April 17 launch date, no independent third-party audit has been completed, there is no official code repository on GitHub, the App Store's privacy label reveals X Chat collects five or more categories of data including location, contact info, and search history, directly contradicting the marketing claim of "No Ads, No Trackers."
Not continuous monitoring, but a clear access point.
For every message on X Chat, users can long-press and select "Ask Grok." When this button is clicked, the message is delivered to Grok in plaintext, transitioning from encrypted to unencrypted at this stage.
This design is not a vulnerability but a feature. However, X Chat's privacy policy does not state whether this plaintext data will be used for Grok's model training or if Grok will store this conversation content. By actively clicking "Ask Grok," users are voluntarily removing the encryption protection of that message.
There is also a structural issue: How quickly will this button shift from an "optional feature" to a "default habit"? The higher the quality of Grok's replies, the more frequently users will rely on it, leading to an increase in the proportion of messages flowing out of encryption protection. The actual encryption strength of X Chat, in the long run, depends not only on the design of the Juicebox protocol but also on the frequency of user clicks on "Ask Grok."
X Chat's initial release only supports iOS, with the Android version simply stating "coming soon" without a timeline.
In the global smartphone market, Android holds about 73%, while iOS holds about 27% (IDC/Statista, 2025). Of WhatsApp's 3.14 billion monthly active users, 73% are on Android (according to Demand Sage). In India, WhatsApp covers 854 million users, with over 95% Android penetration. In Brazil, there are 148 million users, with 81% on Android, and in Indonesia, there are 112 million users, with 87% on Android.
WhatsApp's dominance in the global communication market is built on Android. Signal, with a monthly active user base of around 85 million, also relies mainly on privacy-conscious users in Android-dominant countries.
X Chat circumvented this battlefield, with two possible interpretations. One is technical debt; X Chat is built with Rust, and achieving cross-platform support is not easy, so prioritizing iOS may be an engineering constraint. The other is a strategic choice; with iOS holding a market share of nearly 55% in the U.S., X's core user base being in the U.S., prioritizing iOS means focusing on their core user base rather than engaging in direct competition with Android-dominated emerging markets and WhatsApp.
These two interpretations are not mutually exclusive, leading to the same result: X Chat's debut saw it willingly forfeit 73% of the global smartphone user base.
This matter has been described by some: X Chat, along with X Money and Grok, forms a trifecta creating a closed-loop data system parallel to the existing infrastructure, similar in concept to the WeChat ecosystem. This assessment is not new, but with X Chat's launch, it's worth revisiting the schematic.
X Chat generates communication metadata, including information on who is talking to whom, for how long, and how frequently. This data flows into X's identity system. Part of the message content goes through the Ask Grok feature and enters Grok's processing chain. Financial transactions are handled by X Money: external public testing was completed in March, opening to the public in April, enabling fiat peer-to-peer transfers via Visa Direct. A senior Fireblocks executive confirmed plans for cryptocurrency payments to go live by the end of the year, holding money transmitter licenses in over 40 U.S. states currently.
Every WeChat feature operates within China's regulatory framework. Musk's system operates within Western regulatory frameworks, but he also serves as the head of the Department of Government Efficiency (DOGE). This is not a WeChat replica; it is a reenactment of the same logic under different political conditions.
The difference is that WeChat has never explicitly claimed to be "end-to-end encrypted" on its main interface, whereas X Chat does. "End-to-end encryption" in user perception means that no one, not even the platform, can see your messages. X Chat's architectural design does not meet this user expectation, but it uses this term.
X Chat consolidates the three data lines of "who this person is, who they are talking to, and where their money comes from and goes to" in one company's hands.
The help page sentence has never been just technical instructions.
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