Curve DAO’s latest rollout triggers price rally in DeFi tokens CRV and CVX

Curve, a decentralized exchange, shipped its latest offering, in the form of Tri Crypto token pool, on Tuesday. Curve DAOs pool hosts Ethereum, WBTC and USDT and its launch triggered a rally in CRV and CVX prices. 

Through the new liquidity pool, traders can earn double the benefits from their Ether holdings, providing liquidity first to the TriCrypto pool and then deposit the TriCrypto LP token in a different pool. 

Also read: AVAX price begins rally after massive spike in activity on Avalanche

How to earn double benefits from Ether in Curve DAOs new pool

Decentralized crypto exchange Curve’s TriCrypto Pool doubles the benefit for Ether holders through its TriCrypto pool. The latest product offering was shipped on April 25 and it hosts three assets- Ethereum (ETH), Wrapped Bitcoin (WBTC) and USD Tether (USDT). 

Ethereum holders can provide liquidity in the TriCrypto Pool and use the TriCrypto LP to provide liquidity in another pool, TriCrypto-stETH pool for instance. This doubles the gains for users holding Ether, opening up opportunities to earn higher income from liquidity pools. 

The rollout of the pool has triggered a rally in Curve DAO (CRV) and Convex Finance (CVX) tokens. Both assets have yielded upwards of 5% gains for holders since Tuesday, based on data from CoinGecko. 

Curve beats Uniswap through its new liquidity pool

Curve’s competitor Uniswap pairs tokens with Ethereum and reduces the volatility associated with price movements, making trade and earning yield easier for users. However, Curve’s latest offering disrupts this and transitions from stableswap and the volatile Automated Market Maker (AMM) market. 

The TriCrypto pool hosts ETH, WBTC and USDT, making it one of DeFi’s deepest liquidity markets to swap between the three assets and pushing users into the volatile AMM market.