Hey Everyone,
We’ve been offered to participate in the Curvance seed round as a protocol DAO. This is an incredible opportunity afforded to FRAX and FXS holders benefit as a direct result of this since CVE tokens would go toward the protocol balance sheet just like our prior investments such as OHM, CVX, etc…
I personally recommend we vote to attain the entire allocation. The terms of the deal are as follows (and it is the same round/deal as other launch partners of Curvance such as Redacted Cartel which can be seen on their own respective gov forum).
$250,000 allocation for FRAX Protocol
$17/CVE
$2.9M Circ. Market Cap On Day 1
$68M Fully Diluted Value
Investment paid for in AMO Profits (approximately 12 hours of protocol proft)
1 Year Vest with quarterly cliffs, 10% unlock at TGE
Background
Curvance is a decentralized stablecoin lending protocol with an initial focus on wrapped tokens from the Curve, Convex, Yearn, and Badger ecosystems. Curvance team has previously discussed long term strategic partnerships with FRAX and we plan to build a Curvance Lending AMO to directly mint them FRAX expansions (pending future governance vote approval).
More Info
Website: https://curvance.com/
Twitter: https://twitter.com/Curvance
Telegram: Telegram: Contact @curvance
Discord: Curvance
Docs: Curvance: Wrapped Token Lending Protocol - Curvance
