Curve Finance celebrates its fifth anniversary, marking the unusual launch of its governance token CRV on August 13, 2020. The deployment was initiated by an anonymous Twitter user (@0xc4ad), surprising the Curve team, who later confirmed the legitimacy of the contracts. This spontaneous launch has become a pivotal moment in DeFi history. Founder Michael Egorov reflects on Curve's evolution from an automated market maker to a critical component of DeFi's liquidity ecosystem. He emphasizes that while the project's centrality was unexpected, the market demand for stablecoin swaps proved its calculated growth strategy. On this anniversary, a significant reduction in the token's inflation rate highlights ongoing discussions about governance efficiency, with Egorov advocating for token locking over burning. He is also focused on developing Yield Basis, an interest-rate derivatives protocol, applying Curve’s ve-tokenomics concept. Curve's rise exemplifies how unpredictable beginnings can lead to enduring decentralized infrastructures.

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