Fire up your tractors: The farmer’s almanac of decentralized finance is indicating that DeFi Summer 2.0 could feature some healthy yields across the ecosystem.
Multiple common metrics used to gauge the health of the DeFi space are pointing toward a looming bull market, but perhaps most promising of all might be the surge in Curve’s CRV governance token price.
Often referred to as one of the “backbone” protocols of DeFi, Curve is an essential tool for many retail and protocol-level yield farming strategies. Curve allows for low-cost, low-slippage swaps of similar assets — for instance, swapping between different stablecoins such as Dai, USD Coin (USDC) and Tether (USDT) — and users who deposit liquidity into Curve’s pools get trading fees as well as CRV governance token emissions as a reward.
As a result, the protocol is the seventh-largest by total value locked per DeFiLlama, with $6.49 billion in assets, and functions as the primary yield-bearing protocol leveraged by yield vaults like Yearn.finance.
