The decentralized finance (DeFi) platform, Curve Finance, has proposed to add more gauges to its liquidity pools on the Ethereum network, following a request from whale addresses on its platform.
The gauge system on Curve Finance measures the liquidity of a particular pool or set of pools on the platform, and is used to determine the pool’s stability fee.
The addition of more gauges to the Ethereum network will expand the number of pools available for users and provide more options for exchanging various assets.
The proposal has received support from the community, with all 22 votes cast in favor of adding more gauges. The Curve DAO Token [CRV] has seen a 20.89% increase in value over the past week and traded at $1.08.
The overall cryptocurrency market has been showing positive sentiment, resulting in an increase in the number of unique addresses trading CRV tokens and a significant rise in demand for the token, with the daily number of new CRV addresses created increasing by 103%.
