
Curvance
Omnichain money market for yield-bearing asset collateralization.
Date | Investors | Amount | Round |
---|---|---|---|
- | investor | €0.0 | round |
* | $3.6m | Seed | |
Total Funding | 000k |
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Curvance is a decentralized finance (DeFi) protocol engineered to address liquidity fragmentation and enhance capital efficiency across multiple blockchain networks. Founded in 2022 by Chris Carapola and Michael Butcher, the platform functions as an omnichain money market for a wide array of digital assets. The co-founders aimed to create a more accessible and unified money market experience for both new and experienced DeFi participants.
In December 2023, Curvance emerged from stealth mode, securing $3.6 million in a seed funding round. The round saw participation from over 20 decentralized autonomous organizations (DAOs) and prominent developers, including Offchain Labs (the developer of Arbitrum), Wormhole, and angel investors like Polygon co-founder Sandeep Nailwal. This funding was allocated towards expanding operations, conducting security audits, and recruiting talent.
The protocol allows users to supply yield-bearing assets, such as those from Curve, Balancer, and Pendle, and use them as collateral for peer-to-peer loans without sacrificing the underlying yield. This is achieved through a modular architecture featuring ERC-4626 vaults, which standardizes the integration of third-party strategies and supports almost any ERC-20 token. Key features include high loan-to-value (LTV) ratios, auto-compounding yields to maximize returns, and a security-first design that incorporates dual oracle systems and volatility circuit breakers. The platform operates across several blockchains, including Ethereum, Arbitrum, Optimism, and Polygon zkEVM, utilizing Wormhole's technology for cross-chain interoperability.
Curvance's business model centers on generating fees from its lending and borrowing activities. The native governance token, CVE, allows holders to participate in the Curvance DAO, vote on protocol parameters like token emissions and collateral eligibility, and receive a share of platform fees. The protocol is currently in its testnet phase, with a mainnet launch anticipated for Q1 2025.
Keywords: decentralized finance, DeFi, omnichain money market, liquidity management, yield farming, cross-chain lending, crypto borrowing, ERC-4626, capital efficiency, liquidity protocol, stablecoin lending, Chris Carapola, Michael Butcher, Offchain Labs, Wormhole, Polygon, Arbitrum, yield-bearing assets, auto-compounding, tokenized treasuries, multichain