U.Today - Curve DAO (CRV) token has pulled yet another trick that may ultimately help its much-coveted recovery. As by the protocol, its annual emissions-slashing event has been automatically activated on-chain in a massive deflationary move. Based on the actual figures, the CRV emissions rate has now plummeted by 15.9%, as preprogrammed.
Most projects in the Web3.0 ecosystem of today are positively tilted toward deflation as a crucial on-chain strategy to increase valuation over time. This deflation is typically implemented in two major ways, and it could either be through , as exhibited by Bitcoin (BTC), Litecoin (LTC) and other Proof-of-Work (PoW) protocols or via regular token burning, as is embodied by Shiba Inu.
Despite being a decentralized finance (DeFi) protocol, Curve has a preprogrammed schedule to reduce its emissions rate, and the implementation at this time appears quite strategic.
Curve (CRV) a major exploit weeks ago, with the impact taking a significant toll on the token as it recorded a massive selloff. At the time of writing, CRV is still down by 31.59% over the past month, a decrease in valuation that the current deflationary sentiment may help to turn around.
Curve price outlook
At the time of writing, Curve is changing hands at a price of $0.5829 after losing about 0.13% in the past 24 hours. Though the bearish sentiment is yet to totally fade off, there is a promising uptick in the 24-hour trading volume, which has inked as much as an 8% surge with a total of $49 million traded within that time.
Besides this current emissions slash, Curve has also implemented a number of drastic moves to help in reviving its price. One of these moves is the , which will offer its dedicated users more options to put their stablecoins to use.