## 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

AtromG8

Zelwin

Inex Project

CoTrader

Autobahn Network

Peanut

NFTrade

hiMFERS

UBD Network

Xeno Token

Cosmic Network

RunesBridge

Ness LAB

MetaGaming Guild

Mazze

pNetwork

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

xDai is a cryptocurrency that is pegged to the US dollar. The xDai chain is a stable payment blockchain that is designed for fast and inexpensive transactions. STAKE is secured by proof-of-stake consensus. xDai was founded on Oct. 1, 2018.

STAKE is a multi-chain staking token that is designed to secure the payment layer. Staking allows validators and delegators to provide transaction consensus and receive staking incentives for block production. It is only required for consensus providers, not everyday on-chain transactions.

xDai was created by the POA Network, an open-source public side-chain of Ethereum founded in April 2017. It offers a framework for smart contracts which provides developers with an easy and effective way to code on Ethereum, while also leveraging the POA Network capabilities.

STAKE

AirSwap

Augur

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

dForce

The Bitcoin Standard Hashrate Token (BTCST) was launched on Binance Smart Chain (BSC) on Dec. 13, 2020. It is collateralized by Bitcoin’s (BTC) hashrate, with each token representing 0.1 TH/s of Bitcoin mining power at an efficiency of 60 W/TH. As such, miners contribute their computational power to the platform in exchange for newly minted BTCST tokens.

BTCST’s goal is to bridge liquidity to Bitcoin’s mining market. This will allow users to get exposure to mining rewards and hashpower of any size, at a low cost. The ultimate goal of the app is to increase the liquidity and efficiency of mining power markets.

Bitcoin Standard Hashrate Token

Wrapped NXM (wNXM) is a 1-to-1 backed token that can only be generated by wrapping genuine NXM.

NXM can only be traded among Nexus Mutual members, while wNXM is fully tradable but can't be used at all within the Nexus Mutual protocol.

Wrapped NXM

Dock is building a gateway to Web3 by providing simple solutions for businesses and developers to build, manage, and present digital Verifiable Credentials and decentralized identities using blockchain.

Dock provides credentialing technology that can be used to create cryptographically secure and instantly verifiable digital credentials, including workforce certificates, academic achievements, identity documents, and KYC checks.

Since 2017, Dock has been building Decentralized Identity and Verifiable Credentials (VC) technology, which will act as a gateway to Web3 in the future. We have been collaborating with organizations to adapt and innovate in the Web3 ecosystem by helping them understand the true ownership of their data and making their documents, certificates, and credentials become digital, tamper-proof, and instantly verifiable. Web3 is about data ownership and by using Dock’s technology, individuals can now truly own and control their most important documents and regain control over their data.

Dock

Launched in 2020, Dego Finance is a decentralized ecosystem that offers a diverse combination of non-fungible token (NFT) and decentralized finance (DeFi) tools. It is an independent, open NFT ecosystem.

To learn more about this project, check out our deep dive of Dego Finance.

Any user is allowed to launch an NFT and initiate mining, auctions and trading, covering the entire lifecycle of the product. Dego’s NFT protocol is a cross-chain, second-layer infrastructure for Blockchain projects that can be leveraged for user acquisition and token distribution.

Dego uses a modular combination design concept that combines various elements of a product to form subsystems with specific functions.

Dego Finance

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

PERL.eco

Opium is a new platform for launching and trading cryptocurrency derivatives.

Having begun operations in May 2020, Opium uses Ethereum to run a decentralized derivatives marketplace in which any cryptocurrency owner can participate.

The aim of the platform is to democratize access to financial derivatives while using the benefits that decentralization affords traders over legacy alternatives.

Opium’s in-house token, OPIUM, launched in January 2021 and will fulfil various roles mostly centered around platform governance. Active users will be able to vote on some of the most important decisions involved in the platform’s operations.

Opium

StaFi

Wanchain is a distributed ledger that allows for cross-chain transactions and the interoperability of multiple chains. Although Wanchain facilitates transactions between blockchains, it is also a stand-alone blockchain that runs autonomously. The protocol acts as a distributed ledger that processes and maintains records of cross-chain transactions.

Transactions on Wanchain do not only occur between different public blockchains but between private chains as well. As an Ethereum (ETH) fork, Wanchain enjoys some of the properties of the Ethereum blockchain. The protocol securely and autonomously processes applications via smart contracts.  The use cases for Wanchain include decentralized exchanges (DEXs), lending and borrowing platforms, stablecoins, crowdfunding, multi-currency payments and settlements.

The platform is totally decentralized and requires no custodian party to manage or confirm transactions. Unlike other cross-chain systems, Wanchain does not rely on a third-party platform to authenticate transactions. The locked account mechanism is used to secure and manage accounts on the network, eliminating third-party interferences.

Wanchain

Unifi Protocol DAO

Flamingo is a decentralized finance (DeFi) platform based on the Neo blockchain and the Poly Network interoperability protocol. It combines several DeFi applications into a single ecosystem: a cross-blockchain asset gateway (wrapper), an on-blockchain liquidity pool (swap), a blockchain asset vault, a perpetual contract trading platform (perp) and a decentralized governance organization (DAO).

Different components of the Flamingo network are planned to be launched in several phases:

Token wrapper for Bitcoin, Ethereum, USDT, Neo, Ontology and others: September 23, 2020

Swap and LP token staking: September 30, 2020

Phase 3 vault launch and stablecoin issuance: October 28, 2020

Perp launch: November 25, 2020

DAO launch: December 23, 2020