Another ruse by the Curve DAO (CRV) token may finally aid in its much-desired comeback. According to the protocol, a significant deflationary action has been taken by automatically activating its yearly emissions-slashing event on-chain. According to real data, the CRV emissions rate has now decreased by 15.9% as planned.
Deflation is a key on-chain tactic used by the majority of projects in the Web3.0 ecosystem today to improve worth over time. The two main methods of implementing deflation are halving, as shown by Bitcoin (BTC), Litecoin (LTC), and other Proof-of-Work (PoW) protocols, or regular token burning, as demonstrated by Shiba Inu.
Although Curve is a decentralised finance (DeFi) protocol, its adoption at this moment seems to be rather deliberate. Curve has a preprogrammed timetable to limit its emissions rate.
A huge exploit was experienced by Curve (CRV) a few weeks ago, and the resultant damage was considerable as the token saw a sharp selloff. As of this writing, CRV is still down 31.59% over the previous month; but, the present deflationary mood could be able to reverse this decline in valuation.
Curve price outlook
At the time of writing, Curve has dropped by roughly 0.13% over the previous 24 hours and is now trading at $0.5829. Despite the fact that the negative feeling has not yet completely subsided, there has been a positive improvement in the 24-hour trading volume, which has seen up to an 8% increase and a total of $49 million exchanged during that period.
In addition to the present reduction in emissions, Curve has taken a number of bold actions to assist boost its pricing. One of these initiatives is the planned opening of a new pool, which will provide its devoted customers more ways to utilise their stablecoins.
