Curve Finance, a decentralized exchange, will distribute nearly $3 million in accrued fees to the platform’s governance token holders, following a community vote.
On Friday, a week-long voting period seeking to determine how “admin fees” were to be allocated closed in favor of token holders. Now, in three days, some $2,631,601.92 worth of fees – accrued before the vote opened – will head to community member coffers.
The protocol will continue to disburse fees on a weekly basis following this initial payout, Curve CEO Michael Egorov told CoinDesk.
Curve’s recent vote could be seen as a successful exercise in distributed governance, where platform users are encouraged to participate by having skin in the game. The vote passed unanimously with 95 votes cast in favor, representing 49.75% of the entire eligible voting pool.
This point is all the more emphatic considering the confounding origins of Curve’s governance token. In August, an anonymous DeFi user preemptively…
