NEARStarter announces the IDO of CURL, a Protocol for Concentrating Liquidity
Dear community,
NEARStarter is pletoric to announce we’ll host the IDO of CURL, a protocol that addresses current shortcomings of liquidity fragmentation caused by bridges and L2 solutions!
CURL IDO will happen in early Q1 2023, and thus CURL token will be the second one to launch through the NEARStarter launchpad after our own IDO, NSTART token!
NEARStarter has partnered with fellow incubator Occam.fi (one of the two main incubators helping accelerate CURL) to bring this gem to the NEAR & Aurora communities, as well as to ensure CURL mechanism and features will benefit the Aurora DeFi ecosystem.
CURL is a protocol that facilitates integrating liquidity across blockchains by pooling and issuing a homogenized synthetic asset. This asset enables the multi-chain accommodation of synthetic liquid tokens, as it represents a weighted exposure to all underlying synthetics, effectively making them fungible.
As an essential player against liquidity fragmentation among Layer 2 networks, this unique project, developed by the Blueshift and OccamX teams, will launch its tokens in up to 7 different blockchains. It will help connect Aurora efficiently (and, by extension, the whole NEAR Ecosystem) to the rest of EVMs! A true game-changer, if you ask me!
CURL benefits comprise:
- DeFi’s fragmented liquidity landscape integration.
- Generation of exactly one L2 synthetic for every underlying L1 asset, simplifying the coordination between blockchains.
- The concentration of order flows, leveling up fungibility of L2 assets
- It provides a DAO mechanism to define weights for different bridges, allowing its community to even vote substandard ones out of the ecosystem.
$CURL and $hX Token
CURL is a dual token DAO, dividing $CURL as the governance token and $hX as the universal synthetic token.
The $hX (e.g., hUSDT) Synthetic Token’s ultimate goal is to prove liquidity to the metapool from each asset, which returns as a universal synthetic (hUSDT) and some $CURL. Following the example, hUSDT can also be burnt to receive any constituent ~1:1.
Regarding the $CURL token, staking gives you access to its two utilities:
a. Vote rights to change system settings, such as $CURL premiums per asset in the Base pool, among others.
b. Participate in the DAO Treasury governance.
The token mechanisms are robust and strictly deliberated, allowing CURL to guarantee equilibrium maintenance around liquidity addition and withdrawal to its users.
CURL can be the perfect solution for Liquidity Fragmentation, which now causes web3 users to encounter uncertainty and degraded quality of service.
NEARStarter is thrilled to be hosting the IDO from CURL, a protocol that will act as a multichain engine of liquidity to the Aurora and NEAR ecosystems. The Web3 universe needs this kind of innovative project to step up its game; let’s go!
Stay tuned for more news, and keep an eye on our networks!
