I would like to propose adding SWRV/ETH.
What is Swerve Finance?
Swerve is a decentralised exchange liquidity pool on Ethereum designed for extremely efficient trading of soft-pegged and hard-pegged assets, such as stable-coins.
A crucial difference from its precursor Curve is the lack of any unfair token distribution. There’s no fake-out deployment, no questionable pre-mining, no founder controlling majority of the governance vote, no 30% allocation to shareholders, no team allocation, no decades long distribution, none of it.
Swerve’s swUSD pool currently offers some of the lowest slippage rates with the lowest gas footprint compared to its competitors owing to its gas optimisations.
The protocol has been audited by PeckShield and Cryptic Labs.
- Community-owned and managed project, just like SushiSwap.
- The liquidity is low on exchanges (incl. UNI and other DEXs) and major supporters are currently requesting an OTC gateway to facilitate larger trades. Being on SushiSwap would help us build liquidity for trades, and ensure all these larger holders rely on SushiSwap for their trades, assuming we can ramp up enough liquidity.
- We currently do between $5M-$10M daily volume on stables, and have a meagre marketcap of just about $5M, and a TVL of $35M. Refer to http://swerve.defi.surf/ for stats.
- Low TVL, but we believe it is really the volume and utilisation ratio that counts.
- It’s a fork, and there’s negative sentiment against forks right now in the ecosystem.
- Daily SWRV trade volume is around $3M, but this could change given new venues of liquidity.
Looking forward to opinions. Thanks!