If you buy at least US$50 worth of CRV & INCH with your credit or debit card before 15th August you’ll earn a bonus US$5!
The next of our newest batch of cryptocurrencies is Curve DAO (CRV). If your knowledge of CRV isn’t quite up to scratch, don’t worry - read on to find out more.
What is CRV?
CRV is a freely tradable token that powers Curve.fi, a DeFi market maker protocol designed to make it easy to swap between Ethereum-based assets. Curve-fi promotes the creation of liquidity by offering incentives - namely CRV tokens.
Who created CRV?
CRV’s origins were not all that clear cut at first. The token was released suddenly in 2020 and the website listed no official team members, making the coin’s creator a bit of a mystery at first. However, some crypto sleuths managed to work out that it was physicist, Michael Egorov, who founded it.
What makes CRV unique?
Unlike other DeFi protocols, Curve.fi’s main focus is stablecoins. Its ultimate goal is to allow stablecoins such as MKR and USDT to be traded with low fees and minimal price variation. It does so not by using a central order book, but through pools of cryptocurrencies provided by users, which allow them to earn fees on their assets while letting traders buy and sell those assets at better prices.
Holding CRV allows you to have a say in the setting of rules on the platform, deciding which coins are allowed on the platform and choosing which rewards users should receive.
The new coins keep on coming - and next in line is 1INCH. Let’s have a look at what the token does, the technology behind it and how it came about.
What is 1INCH?
1inch (1INCH) is an Ethereum token which powers the DeFi aggregation protocol, 1inch. This decentralised exchange aggregator claims to offer the best rates by discovering the most efficient swapping routes across all leading DEXs. Once it’s found the best prices, it reroutes trades between them, allowing users to easily and cheaply transfer assets.
DEXs all sell the same crypto for different prices (not to mention charge different fees). This is where 1inch comes in - its algorithm finds the cheapest way to make a certain trade using its wealth of exchanges and liquidity protocols. When you buy a token through 1inch, it will likely be exchanged multiple times - in different protocols and into different currencies - before it reaches you in its final form at a competitive price.
Who created 1INCH?
The 1inch platform was founded in July 2020 and it launched its governance token, 1INCH, shortly after in December 2020.
Co-founder and CEO, Sergej Kunz, started studying programming when he was just 14 years old. Before 1inch, he had his own telecommunication aggregation and software development business, and also worked for Porsche AG.
Co-founder and CTO, Anton Bukov, has worked in software development since 2002, and with DeFi since 2017.
What makes 1INCH unique?
1INCH, the token, is a utility and governance token, which means you can use it to vote on the way the 1inch platform is run. 1inch call this “instant governance”.
You can earn 1INCH tokens by providing liquidity to 1inch’s liquidity platform - basically by staking crypto that others can use when placing trades.
Fun fact: you can buy ETH-based WXT on 1inch - go check it out here!
Crypto Spotlight 1INCH & CRV July EEA & APAC Terms & Conditions
The following terms and conditions (“Terms”) shall apply to the Crypto Spotlight SUSHI & COMP Promotion (the “Promotion”) which is offered by Wirex Ireland Limited in the European Economic Area (“EEA”) and Wirex Pte Ltd in the Asia Pacific (“APAC”) (each separately referred to as “Wirex”):
1. The Promotion will run from 00:01AM (BST) on 9 August 2021 until 23:59 (BST) on 15 August 2021 (the “Promotion Period”).
2. This Promotion is open to verified users of the Wirex Service only (as defined by the applicable Wirex terms & conditions: Wirex | Making currencies equal and available to everyone) resident in the EEA and APAC regions (“Eligible Participants”). For the avoidance of doubt, no other users of the Wirex Service are eligible for this Promotion.
3. The Promotion applies to Eligible Participants who complete a 1INCH or CVR cryptocurrency purchase with a minimum exchange value of EUR 50 (in the EEA) and USD 50 (in APAC) via debit or credit card in the Wirex App during the Promotion Period (“Qualifying Transaction”).
4. Any Eligible Participants who complete a Qualifying Transaction prior to or after the Promotion Period will not be eligible for the Reward.
5. Qualifying Transactions are limited to one per customer during the Promotion Period.
6. The Reward will be paid to all Eligible Participants who complete a Qualifying Transaction within the Promotion Period (“Qualifying Participants”).
7. The Reward will be paid to Qualifying Participants’ accounts within 30 Working Days of the end of the Promotion Period. Once a Qualifying Participant has received the Reward, it can be converted to traditional fiat currency through the Wirex Service at the Participant’s discretion.
8. “EUR” means Euro.
9. “Reward” means the WXT equivalent of EUR 5 (in the EEA) and USD 5 (in APAC) which will be calculated by an exchange rate determined by Wirex from time to time at its absolute discretion. The Reward will be paid in WXT only. The Reward may be amended or cancelled by Wirex at any time without prior notice.
10. “1INCH” means the 1inch token cryptocurrency available through the Wirex App.
11. “CRV” means the Curve DAO token cryptocurrency available through the Wirex App.
12. “USD” means United States Dollar.
13. “Working Days” means Monday to Friday, excluding weekends and any public holidays when the banks of England are closed for business.
14. “Wirex App” means the Wirex mobile application which allows you to buy, store, exchange and spend a wide variety of traditional and digital currencies.
15. “WXT” means the Wirex Token on the Wirex Service.
16. Subject to applicable law, Wirex will not under any circumstances be liable to compensate Wirex users, Eligible Participants, Qualifying Participants or other third parties for any losses or damages occurring as a result of their participation or engagement with this Promotion.
17. Wirex may, at its sole discretion, revise any of these Terms or terminate this Promotion at any time without prior notice to Wirex users, Eligible Participants, Qualifying Participants or other third parties.
18. This Promotion is launched by Wirex independently and there are no partnerships between Wirex and any merchant or other third parties relating to this Promotion.
19. The Terms of this Promotion are governed by the laws of England and the parties irrevocably agree that the courts of England shall have exclusive jurisdiction to hear, settle and/or determine any dispute, controversy or claim (including any non-contractual dispute, controversy or claim) arising out of or in connection with this Promotion.