US Jobless Claims Lower Than Forecasted, Impact on Crypto Unclear

Since the birth of NFT, the overall market has taken shape. PANews and NFTScan have jointly launched the list of the 50 most influential NFT projects by comprehensively considering market cap, transaction volume and popularity of NFT projects in the Ethereum ecosystem.

M2 is backing the protocol’s bid to grow adoption of its synthetic dollar products across the Middle East.

The post Curve $60M Proposal Would Expand Business, Give Income to Users appeared on BitcoinEthereumNews.com. The Curve Finance decentralized autonomous organization (DAO) is voting on a proposal that could open up new income streams for the protocol and its ecosystem. The proposal, introduced in August by founder Michael Egorov, would establish a $60 million credit line of crvUSD for Yield Basis. Voting began on Wednesday, with 97% of votes cast in support of the proposal at the time of writing. Under the Yield Basis, holders of CRV who stake their tokens would receive veCRV (vote-escrowed CRV) in return, essentially creating income for stakers. Yield Basis would return between 35% and 65% of its value to holders of veCRV, while an additional 25% would be reserved for the ecosystem. Current voting for the $60 million credit line proposal. Source: Curve Finance Egorov said the credit line would be enough to create pools for three assets: WBTC (WBTC), cbBTC (cbBTC) and tBTC (tBTC). “In order to get more incentives for Curve ecosystem as well as to pay a fee for having Curve technology (cryptopools) powering its core, Yield Basis makes an allocation equal to 25% of YB which Yield Basis liquidity providers are getting to Curve,” Egorov wrote in the proposal. The Yield Basis is said to tackle the problem of impermanent loss by borrowing and making a supply sink at the same time. “Therefore, TVL and debt in Yield Basis can scale up to any size without affecting crvUSD peg negatively,” Egorov said. Impermanent loss occurs when the value of digital assets deposited in a liquidity pool falls more than if the assets were held outside the liquidity pool. It can happen due to liquidity pool rebalancing and other factors. Curve Finance is a player in decentralized finance and had a $2.4 billion total value locked (TVL) as of Thursday, according to DefiLlama. However, that TVL…