## What Is Swerve (SWRV)?

Swerve is a decentralized [liquidity](https://coinmarketcap.com/alexandria/glossary/liquidity) exchange [pool](https://coinmarketcap.com/alexandria/glossary/liquidity-pool) that was forked from [Curve](https://coinmarketcap.com/currencies/curve-dao-token/). Similar to Curve, it is primarily focused on [stablecoin](https://coinmarketcap.com/alexandria/article/what-is-a-stablecoin) pools. It launched with just one combined pool of [Dai](https://coinmarketcap.com/currencies/multi-collateral-dai/) (DAI), [USD Coin](https://coinmarketcap.com/currencies/usd-coin/) (USDC), [Tether](https://coinmarketcap.com/currencies/tether/) (USDT) and [TrueUSD](https://coinmarketcap.com/currencies/trueusd/) (TUSD). In December, the project [reported](https://twitter.com/SwerveFinance/status/1337546455033122816) that the pool had reached nearly $1 billion in total value locked.

As a [decentralized autonomous organization](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao), Swerve uses an [Ethereum](https://coinmarketcap.com/currencies/ethereum/)-issued [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) token, SWRV, for governance in addition to rewarding [liquidity providers](https://coinmarketcap.com/alexandria/glossary/liquidity-provider).

The project was [announced](https://twitter.com/SwerveFinance/status/1301619585976807428) on Sept. 3, 2020, and [launched](https://twitter.com/SwerveFinance/status/1302063258195681282) the next day.


### Who Are the Founders of Swerve?

Swerve was launched by a pseudonymous developer known as "John Deere" who started it as a passion project outside of his full-time job. When asked about his personal background in an "ask me anything" session, he [stated](https://swervenewsletter.substack.com/p/swerve-ama-john-deere) that he is "just a lowly farmer" who likes "sane token distributions." He has also [said](https://thedefiant.substack.com/p/a-chat-with-john-deere-the-anonymous) that he has experience in software development and crypto.

Although he started it by himself, John Deere has given credit to the community for assisting in its design and implementation. He has [said](https://swervenewsletter.substack.com/p/swervefi-newsletter-3) that while he is guiding the project during its initial growth, he hopes to pass on its development to the community.

In October 2020, Swerve governance [voted](https://twitter.com/SwerveFinance/status/1323366680962031616) to hire community member "FairlyRarePepe" as an additional developer.


#### What Makes Swerve Unique?

Swerve was launched as a community-focused alternative to Curve. Swerve's founder has been very [critical](https://thedefiant.substack.com/p/a-chat-with-john-deere-the-anonymous) of Curve, saying that the platform is not fairly governed and that its founder has too much power. Swerve's founder has said that it [offers](https://swervenewsletter.substack.com/p/a-note-on-the-future-of-swerve) better swap pricing and [larger](https://twitter.com/SwerveFinance/status/1330972613489815553) annual percentage yields on stablecoins than other platforms.

Swerve also uses a reward gaming mechanism called "Boost" through which liquidity providers that lock up SWRV can receive a higher APY than those that don't boost. The rate at which one's APY is boosted is [determined](https://twitter.com/SwerveFinance/status/1308857474754195458) by a calculation that incorporates the number of tokens locked by the user and the total amount locked, among other factors.

Trading on the platform is [subject](https://snapshot.page/#/swerve/proposal/QmXRJgtnhyzAZChWr1sXKF1VnmYc7FaBBq9zv9nidogc9S) to a 0.03% fee, of which 50% is awarded to liquidity providers and 50% is taken as an administrative fee and sent to the Swerve treasury, which is [capped](https://snapshot.page/#/swerve/proposal/QmXWEMpWMy8ye7RcJrC9vXkgmxVwH9VqoS3pGW58EYJKvn) at $200,000. In October 2020, its governance [voted](https://twitter.com/SwerveFinance/status/1321574499498651649) to accept a grant to further build on [decentralized finance](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance) platform [Serum](https://coinmarketcap.com/currencies/serum/) (SRM).

In October 2020, founder John Deer [stated](https://swervenewsletter.substack.com/p/a-note-on-the-future-of-swerve) that his priorities for the project were to increase the platform's volume and better incentivize the holding of SWRV.


#### Related Pages:

Learn about [Curve](https://coinmarketcap.com/currencies/curve-dao-token/), the project from which Swerve was forked.

Learn about [Uniswap](https://coinmarketcap.com/currencies/uniswap/), the largest decentralized trading protocol.

Want to know more about how DAOs operate? Read an [in-depth explanation](https://coinmarketcap.com/alexandria/article/what-is-a-dao) on Alexandria, CoinMarketCap's online educational resource.

Stay up to date on the latest developments in decentralized finance and trading with the [CoinMarketCap blog](https://coinmarketcap.com/alexandria/categories/blog).


#### How Many Swerve (SWRV) Coins Are There in Circulation?

Swerve has a total token supply of 33 million. All minted SWRV is awarded to liquidity providers, with the development team stating that there was no premine and no tokens allocated to the developers.

Nine million SWRV was [distributed](https://swerve.fi/swerve/) during the first two weeks, and another 9 million SWRV will be distributed over the first year. Starting at year two, 3 million SWRV will be distributed per year until all 33 million tokens have been minted by the end of year six.


### How Is the Swerve Network Secured?

SWRV is an ERC-20 token issued on the Ethereum [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain), which means that SWRV transactions are validated by the Ethereum network. Ethereum uses a [proof-of-work](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) [consensus](https://coinmarketcap.com/alexandria/glossary/consensus) algorithm in which miners compete among each other to add new blocks to the blockchain and a majority of all nodes in the network must confirm a record for it to be posted.

Swerve's treasury is controlled by a small group of multisignature key holders who were selected by a governance [vote](https://swervenewsletter.substack.com/p/swervefi-newsletter-2). Three community members and four external representatives hold the treasury keys.

The Swerve protocol's [smart contracts](https://coinmarketcap.com/alexandria/glossary/smart-contract) were audited by [Cryptic Labs](https://github.com/crypticlabs/swerve-audit-report/blob/master/Swerve%20Finance%20Audit%20-%20by%20Cryptic%20Labs%20v3.pdf) and [Peckshield](https://github.com/peckshield/publications/blob/master/audit_reports/PeckShield-Audit-Report-Swerve-v1.0.pdf), both of which found no critical security flaws. However, in October 2020, Swerve [announced](https://twitter.com/SwerveFinance/status/1313421862735499264) that it had been alerted to a security vulnerability in the smart contracts that power the platform, stating that it was working on a fix.


### Where Can You Buy Swerve (SWRV)?

SWRV can be purchased on [cryptocurrency](https://coinmarketcap.com/alexandria/article/what-are-cryptocurrencies) exchanges such as [OKEx](https://coinmarketcap.com/exchanges/okex/), [Huobi Global](https://coinmarketcap.com/exchanges/huobi-global/), [Binance](https://coinmarketcap.com/exchanges/binance/) and [MXC.COM](https://coinmarketcap.com/exchanges/mxc/), among others. It can be traded against the U.S. dollar, cryptocurrencies such as [Bitcoin](https://coinmarketcap.com/currencies/bitcoin) (BTC) and [Ether](https://coinmarketcap.com/currencies/ethereum) (ETH), and stablecoins such as [Tether](https://coinmarketcap.com/currencies/tether/) (USDT) and [Binance USD](https://coinmarketcap.com/currencies/binance-usd/) (BUSD).

Are you interested in buying SWRV or other cryptocurrencies such as [Bitcoin](https://coinmarketcap.com/currencies/bitcoin)? CoinMarketCap has a simple, [step-by-step guide](https://coinmarketcap.com/how-to-buy-bitcoin/) to teach you all about crypto and how to buy your first coins.


Swerve

Trust Wallet

MetaMask

Ethereum

Shiba Inu

Chainlink

UNUS SED LEO

Uniswap

HarryPotterObamaPacMan8Inu

UBD Network

OctoFi

Autobahn Network

DeFine

NFTrade

Equalizer

Duckies, the canary network for Yellow

Burency

Pancake Games

Non-Playable Coin

LuckysLeprecoin

ZynCoin

Wrapped Dogecoin

ForTube, previously known as the Force Protocol, describes itself as a suite of distributed crypto-finance service protocols that runs on an open-source blockchain. Its main aim is to offer crypto-finance solutions to developers through its software development kit (SDK) and application programming interfaces (APIs) for decentralized application (DApp) development.

The platform offers solutions for cross-platform asset transactions, cross-chain communications, crypto-asset-backed stablecoin insurance, token board insurance, and on-chain payments. The Force Protocol project is a decentralized protocol layer that is developed and managed by the Force Protocol Foundation Ltd.

ForTube launched its decentralized finance (DeFi) service on the Binance Smart Chain (BSC) in September 2020.

ForTube offers many advantages, including flexible support of globally popular cryptocurrencies that provide higher yield combinations and an upgraded algorithm and ledger structure that significantly reduces gas costs. It also has a robust technical framework with more secure smart contracts.

ForTube

Bytom

pNetwork

High Performance Blockchain is the first permissionless public blockchain to innovate with hardware acceleration and provably random numbers:

acceleration delivers fast, ultra low-fee, on-chain transactions

provably random numbers support 100% fairness

HPB (the coin) is used to pay transaction gas fees and to reward node operators.

Hyperblox

AirSwap

Populous is a network designed to offer small and medium-sized enterprises (SMEs) invoice liquidity for up to 90 days. Launched in 2017, Populous is designed to enable peer-to-peer (P2P) interaction between enterprises, boost liquidity and solve problems with working capital for SMEs.

By relying on blockchain technology and smart contracts, the Populous network facilitates decentralized communication between businesses and allows them to share liquidity pools. According to the network’s official whitepaper, there is a need for liquidity in the sector, and Populous is trying to bring the solution. By providing short-term liquidity to enterprises through P2P lending, the network gives enterprises quick access to capital, which cannot be achieved by waiting for customers to settle invoices.

Populous

HyperCash

C.R.E.A.M Finance is a decentralized  DeFi lending protocol for individuals, institutions and protocols to access financial services. Part of the yearn.finance ecosystem, C.R.E.A.M. Finance is a permissionless, open source and blockchain agnostic protocol serving users on Ethereum, Binance Smart Chain Polygon and Fantom.

Users who are passively holding Ether or wBTC can deposit their assets on C.R.E.A.M. to earn yield, similar to a traditional savings account. For more information visit https://app.cream.finance/.

The C.R.E.A.M. Finance protocol was created as a Compound Finance fork.

C.R.E.A.M Finance is open-source, permissionless, blockchain-agnostic and offers yield farming rewards to its users in order to inclusively develop its network.

The project (which stands for Crypto Runs Everything Around Me) was launched unexpectedly on the Ethereum network on Aug. 3, 2020 through the YOLO liquidity pool. In September 2020 it went live on the Binance Smart Chain (BSC).

The CREAM token allows users to lend, borrow, stake assets and help govern the network, allowing them to vote on assets to support or delist.

Cream Finance

Kava Lend is a decentralized money market built on the Kava Platform that enables the lending and borrowing of cross-chain assets. Kava Lend supports supply-side deposits for BTC, XRP, BNB, BUSD, and USDX. The platform will allow overcollateralized borrowing for supported assets.

Kava Lend

Hifi (formerly Mainframe) is a Lending Protocol that allows anyone to borrow against their crypto. Hifi uses a bond-like instrument, representing an on-chain obligation that settles on a specific future date. Buying and selling the tokenized debt enables fixed-rate, fixed term lending and borrowing — something much needed in decentralized finance today. It is anticipated that a ticker symbol change will occur alongside future iterations on the Hifi Lending Protocol.

Mainframe Token (MFT) is the native utility token that is used for:

Governance votes

Staking to ensure the safety of the protocol

Rewarding contributors to the ecosystem

What can you do with the Hifi Lending Protocol:

Borrow:  Lock collateral in a vault to mint fixed-rate, fixed-term debt tokens.  These debt tokens can be swapped for instant liquidity allowing users to leverage long, yield farm, or pursue other strategic trades without selling their collateral tokens.

Lend:  Buy fixed-rate, fixed-term debt tokens for a discount.  When the term expires they can be redeemed for face value, earning lenders a predictable return on their investment.

Provide Liquidity:  Earn trading fees by providing liquidity between debt tokens and stablecoins on an Automated Market Maker (AMM).

Mainframe

dForce

Bella Protocol is a platform that provides a suite of DeFi products designed to make crypto banking simpler and more accessible. The protocol aims to create a better user experience by eliminating the high fee and slow transaction issues that can affect some blockchain platforms — while simultaneously improving the user experience through its simplified DeFi smart portal.

Bella's smart pool feature allows users to access the best yields available in the DeFi market, while benefiting from nearly zero gas fees — since these are directly subsidized by the platform.

The project launched in September 2020 as the first project distributed via Binance’s Launchpool platform, and has secured investments from several prominent firms, including Arrington XRP Capital and Ledger Capital.

The protocol was built by the ARPA team, a blockchain-based layer 2 solution for privacy-preserving computation. The BEL token is an essential component of the Bella Protocol ecosystem and serves as both a reward token that allows holders to participate in the governance of the platform.

BEL can be used to farm fee rewards from the network, get exclusive discounts on Bella protocol products (such as its robo-advisor tool), and for earning staking rewards.

Bella Protocol

EOSDT

Genaro Network

Augur

MIR is the governance token of Mirror Protocol, a synthetic assets protocol built by Terraform Labs (TFL) on the Terra blockchain.

Mirror Protocol is decentralized from day 1, with the on-chain treasury and code changes governed by holders of the MIR token. TFL has no intention of keeping or selling MIR tokens, and there are no admin keys or special access privileges granted. The intent for this is to be a completely decentralized, community-driven project.

Mirrored assets are blockchain tokens that behave like "mirror" versions of real-world assets by reflecting the exchange prices on-chain. They give traders the price exposure to real assets while enabling fractional ownership, open access and censorship resistance as any other cryptocurrency. Unlike traditional tokens which serve to represent a real, underlying asset, mAssets are purely synthetic and only capture the price movement of the corresponding asset.

Mirrored assets provide the following advantages:

Global Accessibility: In most markets outside of Europe & North America, access to foreign equities and forex markets is highly limited. Crypto allows global accessibility without entry barriers.

Fractional Orders: In traditional finance, to execute a fractional order, multiple fractional orders are bundled together to execute a unitary transaction. The process of gathering all the orders into one requires additional waiting time. By utilizing the blockchain, orders volume is simply represented as a number on the blockchain, so there is no need for the intermediary bundling process.

Nearly-Instantaneous Order Execution: Oftentimes due to the lack of liquidity (price-time-priority order book algorithm), orders can take up to a day to fully execute. Given the fact that Mirror relies on liquidity provided by each individual asset pool, orders can be executed as fast as the blocktime of the network (~ 6 seconds).

Mirror Protocol

Idex claims to be the first hybrid liquidity DEX that combines an order book model with an automated market maker. It blends the performance and features of a traditional order book model with the security and liquidity of an AMM. Idex takes an innovative approach to decentralized exchanges by combining an off-chain trading engine with on-chain trade settlement. Users benefit from that in several ways.

First, this approach does away with failed trades and wasted money on gas fees, making the trading experience more pleasant and efficient. The instant trade execution means front-running or sandwich attacks are not possible and users can trade without waiting for previous trades to settle. As a result, more advanced order types and trading strategies can be executed since limit orders are possible, opening up arbitrage opportunities with other exchanges.

Idex follows an ambitious roadmap that envisions a multi-chain future for the exchange, which currently runs on Ethereum and Binance Smart Chain. For the remainder of 2021, it plans to launch on second layer solutions and Polkadot and implement a referral. For the future, Idex plans to implement leverage trading and launch on additional layer one and layer two blockchains.