Curve founder Michael Egorov proposes 21m CRV funding for Swiss Stake AG

• Michael Egorov’s proposal seeks new funding for Swiss Stake AG, the organisation building Curve.
• The Curve founder says a 21 million CRV grant will help fund the DeFi protocol’s research and development projects.
• Community members have criticised the proposal’s lack of a clear roadmap and transparncy to how funds will be used.

Curve founder Michael Egorov has outlined a proposal seeking community approval for new funding for Swiss Stake AG, the company building the decentralised finance (DeFi) protocol.

In his proposal, the Curve Finance founder requests that the community approves a 21 million CRV token grant to the Switzerland-based entity. The 21 million CRV total $6.34 million at current CRV prices and will be used to finance Swiss Stake AG’s research and development initiatives, Egorov wrote.

Here is a review of what Swiss Stake (company building Curve) did so far! pic.twitter.com/R0PjjTX9mQ

— Curve Finance (@CurveFinance) August 19, 2024

If approved, the funding will come from the Curve Community Fund and tokens would be vested over one year. The Community Fund currently holds just over 47.5 million CRV tokens.

“This proposal requests a grant for software research and development work as well as related tasks for the benefit of Curve as outlined within this proposal. The grant will be for one year, unused funds will be rolled over to the next year,” the Curve founder noted.

Swiss Stake AG has depleted the CRV allocation it received in August 2020, and needs the funding to continue its R&D task, including remuneration for the over 25 team.

Proposal faces some backlash

Reactions to the Curve founder’s proposal have included criticism over the lack of a clear and detailed roadmap for grant utilisation.

“I totally understand the need, and the Swiss Stake AG deserves it! However, it would be amazing if you could share a product/strategy roadmap + cost breakdown like Aave does. More transparency is always appreciated!” a Curve community member said.

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

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