Request for comment - Curvance Seed Round

Mark11

Request for comment - Curvance Seed Round

We’ve been offered to participate in the Curvance seed round as a DAO.

Curvance seeks to unlock wrapped tokens such as cvxCRV, bveCVX, yvBOOST and many others allowing users to earn the APR they would on their original platforms while using those deposits as collateral for secure, stablecoin loans. Each asset's borrowing limit automatically determines lending ratios based on various factors, allowing users to borrow funds to invest and earn more.

For example, a user may deposit cvxCRV tokens from the Convex Finance platform into Curvance. The Curvance protocol routes the deposited cvxCRV to the original Convex pool. While the tokens are earning interest, the user can 'lock' their deposit as collateral to gain a credit limit.

Liquidity providers to the Curvance protocol earn CVE tokens, which can be staked to receive boosted rewards:

Shares of a platform fee based on TVL
Profits from the lending market
Voting rights in the Curvance DAO

The terms are the same for the DAO round which for e.g. are currently proposed for Frax Finance (FIP 43 - Curvance Partnership+Seed Round - Governance Proposals / FIPs - Frax Finance Governance) and Redacted Cartel (https://commonwealth.im/redacted-cartel/discussion/3162-rff-participate-in-the-curvance-seed-round)

Proposed terms:

$250,000 allocation for Olympus DAO

$17/CVE

$2.9M Circ. Market Cap On Day 1

$68M Fully Diluted Value

Paid in OHM - may be wrapped as gOHM and used in governance - may be used to pay contributors/ development costs - cannot be swapped out of for another asset

1 Year Vest with quarterly cliffs, 10% unlock at TGE

Website: https://curvance.com/ 3

Twitter: https://twitter.com/Curvance 2

Telegram: Telegram: Contact @curvance 1

Discord: Curvance

Docs: Curvance: Wrapped Token Lending Protocol - Curvance 1

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I think with the recent developments within the space it is apparent that there is demand for protocols that offer products like this. Additionally, I believe that curve will continue to innovate and grow with their v2 model. I think Olympus being able to partner with this protocol would be key for our continued efforts in becoming the reserve currency of DeFi.