We’re launching a fork of Curve, owned 100% by the community, called Swerve
There's no fake-out deployment, no questionable pre-mining, no founder controlling majority of the governance vote, no suspect team proposals, no 30% allocation to 'shareholders', no team allocation, no decades long distribution, none of it.
It's a simple 33,000,000 supply owned entirely by you, the community of liquidity providers and users.
If you provide liquidity to Swerve, you get ySWRV tokens which can be staked in the Swerve DAO to earn $SWRV. To kickstart the protocol and encourage users to try out Swerve, the first two weeks will have a larger distribution of $SWRV awarded.
[awarded entirely to LPs]:
9,000,000 $SWRV [2 weeks]
9,000,000 $SWRV [year 1]
3,000,000 $SWRV [year 2]
3,000,000 $SWRV [year 3]
3,000,000 $SWRV [year 4]
3,000,000 $SWRV [year 5]
3,000,000 $SWRV [year 6]
Total: 33,000,000 $SWRV
We’ve also removed some bullshit.
On top of a fair and 100% token distribution and no pre-vesting or allocations, Swerve is launching with just one pool to start, using DAI, USDC, USDT and TUSD. This cuts gas costs down dramatically for interactions vs using Y tokens. The DAO can decide to vote in additional pools they want. We don't want LPs initially forced to provide liquidity for additional pools they may not want to actually participate in just to chase rewards. Voting will be enabled within the DAO in about 24 hours.
The whitelist for smart wallets on the voting contract is removed, smart contracts like the YFI ecosystem should be able to participate. Lastly, the voting boost for $SWRV takes effect after one hour instead of 2 weeks, so you can start right out of the gate.
We believe the strongest and healthiest ecosystems are built from fair fundamentals. The goal with Swerve is to build a community that survives after the incentives dry up. Swerve is owned by its users and farmers, not the founding team and its investors. We hope to represent all fair and honest farmers and invite you join us on this journey and experimentation in protocol price discovery.
Your lowly farmer,
John Fuckin' Deere