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Stake DAO has recently disclosed a huge landmark for the $CRV Liquid Locker thereof which has witnessed a remarkable spike in activity. As per Stake DAO, the Liquid Locker currently holds up to 113M $CRV coins locked in the form of $sdCRV, denoting a substantial 75% growth during the recent couple of months. The company took to its official social media account on X to provide the details about this achievement.
The $CRV Liquid Locker surges to 113M $CRV locked as $sdCRV!
— Stake DAO (@StakeDAOHQ) August 24, 2024
Remarkable +75% growth in 2 months, now representing 14% of total @CurveFinance $veCRV supply. pic.twitter.com/mFqeOCcXbJ
$CRV Liquid Locker of Stake DAO Experiences a 75% Growth
In its recent X post, Stake DAO noted that this swift surge regarding locked coins is very beneficial for Stake DAO’s platform. This reportedly signifies the expansion in the trust and popularity of the company. In addition to this, it also points toward an increase in $CRV’s strategic value within the wider DeFi ecosystem. The $CRV Liquid Locker’s growth is crucial specifically in line with the DeFi platforms’ competitive nature.
Hence, a 75% jump of $sdCRV in only a couple of months signals a resilient consumer engagement. Moreover, it also highlights the increasing confidence among the community about the offerings of Stake DAO. As a result of this spike, the total value locked has reached 113M $CRV. This is a significant figure, indicating the ability of the platform to get and retain consumers.
The Locked 113M $CRV Account for the cumulative $veCRV supply’s 14%
The growth of the $CRV Liquid Locker additionally poses wider implications for the ecosystem of Curve Finance. According to Stake DAO, the locked 113M $CRV in the form of $sdCRV presently denotes fourteen percent of the cumulative $veCRV supply. This highlights that several Curve Finance consumers are locking $CRV via the Liquid Locker of Stake DAO.