Decentralized exchange Curve has attracted record volumes after revealing plans for the retroactive distribution of its forthcoming governance token.
Decentralized finance (DeFi) liquidity pools continue to surge in popularity, with the Curve Finance decentralized exchange (DEX) consistently hosting more than $60 million in daily volume for the first time this past week, according to Dune Analytics.
With daily volume closer to $1 million at the start of June, the explosive hype surrounding yield farming propelled an increase in trade activity of more than 50 times in just two months.
Curve daily trade volume: Dune Analytics
Curve’s growth has seen the platform emerge as the second-largest decentralized exchange by trade volume, with Dune Analytics estimating that Curve represents 28% of combined weekly DEX volume with $531.1 million.
A spike in volume above $148 million on July 25 saw Curve outperform Uniswap to briefly rank as the top decentralized exchange by trade activity.
Curve unveils DAO roadmap
Last month, Curve revealed plans to restructure into a decentralized autonomous organization (DAO) and issue a governance token.