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The Curve community has voted to reject the "Appropriate 17.45M CRV for R&D and Team Support" proposal.
BlockBeats News, December 24th, Curve Finance founder Michael Egorov proposed to allocate 17.45 million CRV tokens (about 6.2 million USD) to Curve's development company Swiss Stake AG to support ecosystem development, technical research, and continuous development of the lending protocol. Egorov stated that the funds would be used for software development, infrastructure and security build-out, and to support Swiss Stake AG's core team of around 25 contributors. Planned objectives include: launching and expanding the new lending system Llamalend, developing on-chain forex functionality, and optimizing Curve's user interface and cross-chain capabilities.
However, the voting results showed that 54.46% of participants opposed the proposal, while 45.54% expressed support. Voting data revealed that addresses associated with the two major DeFi protocols, Yearn Finance and Convex Finance, held nearly 90% of all opposing votes.
Some community members expressed concerns about centralization due to the proposal, questioning whether Curve's governance relies too heavily on a few individuals. Other members suggested that before approving any new funds, Swiss Stake should better explain the past use of funds. Curve community members also believe that significant protocol funds have already been allocated in the past, and further allocations could be made in a "staggered payment" manner to avoid negative impacts on CRV's price.
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