Conic Raises $1m

Today we are excited to announce that Conic has raised $1m from Curve founder Michael Egorov. Prior to the events of last week unfolding, the Conic core team had been working closely with Curve core contributors in efforts to better support the Curve ecosystem and further grow Conic’s vision. Through everything, they have continued to show us unwavering support and they are now going the extra mile to help Conic in its recovery.

The newly raised funds will support Conic on its development efforts and most notably in covering the upcoming audit costs. The $1m of additional funding now held by the Conic treasury was raised at a valuation of $17m and the sold tokens are subject to an 8 month linear vesting schedule. We are also very excited to be working closely with the Curve team on new Conic features around crvUSD and Curve integrations. More specifics around Conic v2 will be shared over the coming weeks.