• Michael Egorov’s proposal calls for new financing for Swiss Stake AG, the organization building Curve.
• Curve founder says $21 million CRV grant will help fund the DeFi protocol’s research and development projects.
• Community members have criticized the proposal’s lack of a clear roadmap and transparency on how the funds will be used.

Curve founder Michael Egorov has presented a proposal asking the community to approve new funding for Swiss Stake AG, the company developing the decentralized finance (DeFi) protocol.

In his proposal, the Curve Finance founder asks the community to approve a 21 million CRV token grant to the Switzerland-based entity. The 21 million CRV totals $6.34 million at current CRV prices and will be used to fund Swiss Stake AG’s research and development initiatives, Egorov wrote.

Here is an overview of what Swiss Stake (company building Curve) has done so far! photo.twitter.com/R0PjjTX9mQ

— Curve Finance (@CurveFinance) August 19, 2024

If approved, the funding will come from the Curve Community Fund and the tokens will be distributed over a year. The Community Fund currently holds just over 47.5 million CRV tokens.

“This proposal requests a grant for software research and development work and related tasks for the benefit of Curve as set out in this proposal. The grant is for one year, with any unused funds rolling over to the following year,” Curve’s founder said.

Swiss Stake AG has exhausted the CRV allocation it received in August 2020 and needs the funding to continue its R&D mission, including the remuneration of its team of over 25 people.

Proposal meets with some opposition

Reactions to the Curve founder’s proposal included criticism of the lack of a clear and detailed roadmap for the use of subsidies.

“I totally understand the need and Swiss Stake AG deserves it! However, it would be great if you could share a product/strategy roadmap + cost overview like Aave does. More transparency is always appreciated!” said a Curve community member.

The CRV token price was $0.3035 on Tuesday, August 20, 2024 at 10:00 AM CET.